Renaissance Technologies LLC Increases Stock Position in Climb Global Solutions, Inc. $CLMB

Key Points

• Renaissance Technologies increased its Climb Global Solutions stake by 311.9% in the first quarter, owning 536,213 shares valued at approximately $10.6 million, or 2.88% of the company. Institutional investors collectively own 49.72% of CLMB.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $31.00. Barrington Research maintained an “outperform” rating with a $30 target, while other analysts upgraded or maintained hold ratings.
• Climb Global Solutions reported quarterly EPS of $0.30, matching estimates, and revenue of $174.21 million, slightly ahead of forecasts. The stock opened at $26.81, compared with a 52-week range of $15.24 to $36.26.

Renaissance Technologies LLC increased its position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 311.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 536,213 shares of the company's stock after buying an additional 406,017 shares during the period. Renaissance Technologies LLC owned about 2.88% of Climb Global Solutions worth $10,628,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CLMB. Global Retirement Partners LLC purchased a new stake in shares of Climb Global Solutions during the fourth quarter worth about $36,000. Bard Associates Inc. purchased a new stake in Climb Global Solutions during the 4th quarter worth approximately $55,000. Tower Research Capital LLC TRC raised its position in shares of Climb Global Solutions by 317.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company's stock valued at $59,000 after purchasing an additional 422 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Climb Global Solutions by 31,866.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 959 shares of the company's stock valued at $99,000 after purchasing an additional 956 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Climb Global Solutions during the 4th quarter valued at approximately $110,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CLMB. Weiss Ratings lowered shares of Climb Global Solutions from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Barrington Research reiterated an "outperform" rating and set a $30.00 price objective on shares of Climb Global Solutions in a research note on Tuesday, May 5th. Finally, Wall Street Zen raised shares of Climb Global Solutions from a "sell" rating to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Climb Global Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Insiders Place Their Bets

In other Climb Global Solutions news, Director John R. Mccarthy bought 4,000 shares of the stock in a transaction on Monday, May 4th. The stock was purchased at an average price of $18.83 per share, for a total transaction of $75,320.00. Following the completion of the purchase, the director directly owned 85,876 shares in the company, valued at approximately $1,617,045.08. This trade represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is currently owned by insiders.

Climb Global Solutions Trading Up 0.3%

Shares of CLMB opened at $26.81 on Friday. Climb Global Solutions, Inc. has a 52 week low of $15.24 and a 52 week high of $36.26. The firm has a market cap of $498.67 million, a price-to-earnings ratio of 24.04, a PEG ratio of 1.69 and a beta of 1.09. The stock has a 50 day moving average of $23.91 and a 200-day moving average of $23.93.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Climb Global Solutions had a return on equity of 19.29% and a net margin of 2.88%.The business had revenue of $174.21 million for the quarter, compared to analyst estimates of $174.07 million. On average, sell-side analysts predict that Climb Global Solutions, Inc. will post 1.32 earnings per share for the current fiscal year.

Climb Global Solutions 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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