Victory Capital Management Inc. Sells 15,183 Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB)

Key Points

• Victory Capital Management Inc. reduced its stake in Climb Global Solutions by 51.1%, now holding approximately 14,516 shares valued at $1.6 million as of its latest filing.
• In the fourth quarter, other institutional investors also modified their positions, with notable purchases from Raymond James Financial and LPL Financial totaling over $2.5 million.
• Climb Global Solutions reported $1.39 EPS for the last quarter, exceeding estimates, and has a market capitalization of approximately $467.08 million.

Victory Capital Management Inc. cut its holdings in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 51.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,516 shares of the company's stock after selling 15,183 shares during the period. Victory Capital Management Inc. owned about 0.32% of Climb Global Solutions worth $1,608,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CLMB. Raymond James Financial Inc. bought a new stake in Climb Global Solutions during the 4th quarter worth about $1,449,000. Invesco Ltd. raised its holdings in Climb Global Solutions by 11.5% during the fourth quarter. Invesco Ltd. now owns 95,199 shares of the company's stock worth $12,066,000 after acquiring an additional 9,853 shares in the last quarter. LPL Financial LLC acquired a new position in Climb Global Solutions during the fourth quarter valued at approximately $1,093,000. JPMorgan Chase & Co. boosted its holdings in shares of Climb Global Solutions by 112.9% in the 4th quarter. JPMorgan Chase & Co. now owns 16,088 shares of the company's stock valued at $2,039,000 after buying an additional 8,530 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Climb Global Solutions by 81.5% in the 4th quarter. Ameriprise Financial Inc. now owns 16,965 shares of the company's stock valued at $2,150,000 after buying an additional 7,616 shares during the last quarter. Institutional investors own 49.72% of the company's stock.

Insider Activity

In related news, Director Greg Scorziello sold 5,767 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $100.63, for a total transaction of $580,333.21. Following the completion of the sale, the director directly owned 1,774 shares in the company, valued at $178,517.62. This represents a 76.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.10% of the company's stock.

Climb Global Solutions Stock Down 5.7%

Shares of CLMB stock traded down $6.75 on Friday, reaching $111.25. The stock had a trading volume of 166,591 shares, compared to its average volume of 60,111. Climb Global Solutions, Inc. has a 12 month low of $59.85 and a 12 month high of $144.99. The firm has a market capitalization of $511.97 million, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.91 and a beta of 0.95. The firm's 50-day moving average is $105.70 and its two-hundred day moving average is $112.28.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.49. The business had revenue of $159.28 million for 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 30.27%. On average, sell-side analysts forecast that Climb Global Solutions, Inc. will post 4.14 earnings per share for the current fiscal year.

Climb Global Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 11th will be paid a $0.17 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.68 annualized dividend and a dividend yield of 0.6%. Climb Global Solutions's dividend payout ratio (DPR) is presently 14.11%.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an "outperform" rating and set a $136.00 target price on shares of Climb Global Solutions in a report on Friday, July 25th.

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.