Punch & Associates Investment Management Inc. Sells 58,209 Shares of Climb Global Solutions, Inc. $CLMB

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Climb Global Solutions, Inc. (NASDAQ:CLMB) by 30.9%, selling 58,209 shares and now holding 130,250 shares valued at approximately $14.4 million.
• Analysts have set a price target of $136.00 for Climb Global Solutions, with the stock currently rated as a Buy by one equities research analyst.
• The company recently declared a quarterly dividend of $0.17 per share, resulting in an annualized dividend yield of 0.5%.

Punch & Associates Investment Management Inc. lowered its stake in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,250 shares of the company's stock after selling 58,209 shares during the period. Punch & Associates Investment Management Inc. owned 2.83% of Climb Global Solutions worth $14,426,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CLMB. Tower Research Capital LLC TRC boosted its holdings in Climb Global Solutions by 200.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 477 shares of the company's stock valued at $60,000 after acquiring an additional 318 shares in the last quarter. Banque Transatlantique SA purchased a new position in Climb Global Solutions during the first quarter valued at $60,000. State of Wyoming purchased a new position in Climb Global Solutions during the fourth quarter valued at $64,000. AlphaQuest LLC purchased a new position in Climb Global Solutions during the first quarter valued at $78,000. Finally, MeadowBrook Investment Advisors LLC lifted its position in Climb Global Solutions by 61.1% during the first quarter. MeadowBrook Investment Advisors LLC now owns 1,530 shares of the company's stock valued at $169,000 after buying an additional 580 shares during the period. Institutional investors own 49.72% of the company's stock.

Analysts Set New Price Targets

Separately, Barrington Research reissued an "outperform" rating and set a $136.00 price objective on shares of Climb Global Solutions in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $136.00.

Climb Global Solutions Stock Performance

NASDAQ CLMB opened at $128.61 on Friday. Climb Global Solutions, Inc. has a one year low of $84.39 and a one year high of $144.99. The stock has a 50-day moving average of $113.45 and a 200 day moving average of $110.81. The company has a market capitalization of $594.18 million, a price-to-earnings ratio of 26.68, a PEG ratio of 2.13 and a beta of 1.01.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.90 by $0.49. Climb Global Solutions had a return on equity of 29.16% and a net margin of 3.82%.The company had revenue of $159.28 million during the quarter, compared to the consensus estimate of $113.25 million. On average, equities analysts predict that Climb Global Solutions, Inc. will post 4.14 earnings per share for the current fiscal year.

Climb Global Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 11th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Climb Global Solutions's payout ratio is currently 14.11%.

Climb Global Solutions Company Profile

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.

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