Sierra Summit Advisors LLC Takes $554,000 Position in Climb Global Solutions, Inc. (NASDAQ:CLMB)

Key Points

• Sierra Summit Advisors LLC invested approximately $554,000 in Climb Global Solutions, purchasing 5,001 shares, representing about 0.11% of the company.
• Climb Global Solutions reported a strong quarterly earnings performance with $1.39 EPS, significantly beating analysts' estimates of $0.90.
• The company declared a quarterly dividend of $0.17, with an annualized yield of 0.6%, set to be paid on August 15th to shareholders of record by August 11th.

Sierra Summit Advisors LLC purchased a new position in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,001 shares of the company's stock, valued at approximately $554,000. Sierra Summit Advisors LLC owned 0.11% of Climb Global Solutions at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cynosure Group LLC purchased a new stake in shares of Climb Global Solutions in the first quarter worth $321,000. Vanguard Group Inc. grew its stake in Climb Global Solutions by 3.3% during the first quarter. Vanguard Group Inc. now owns 240,449 shares of the company's stock valued at $26,632,000 after acquiring an additional 7,737 shares in the last quarter. De Lisle Partners LLP grew its stake in Climb Global Solutions by 8.4% during the first quarter. De Lisle Partners LLP now owns 224,588 shares of the company's stock valued at $24,822,000 after acquiring an additional 17,308 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Climb Global Solutions by 7.0% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,100 shares of the company's stock valued at $676,000 after acquiring an additional 400 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new position in Climb Global Solutions during the first quarter valued at $356,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research reissued an "outperform" rating and issued a $136.00 price objective on shares of Climb Global Solutions in a research note on Monday.

Climb Global Solutions Price Performance

Shares of Climb Global Solutions stock traded down $2.66 during trading on Thursday, hitting $125.87. The stock had a trading volume of 33,636 shares, compared to its average volume of 54,110. The firm's fifty day simple moving average is $107.03 and its 200-day simple moving average is $111.37. The stock has a market cap of $581.12 million, a PE ratio of 26.21, a PEG ratio of 2.02 and a beta of 1.01. Climb Global Solutions, Inc. has a 12 month low of $83.86 and a 12 month high of $144.99.

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

Climb Global Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, August 11th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 0.5%. Climb Global Solutions's dividend payout ratio (DPR) is presently 14.11%.

About Climb Global Solutions

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.