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. trimmed its position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 51.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,516 shares of the company's stock after selling 15,183 shares during the quarter. Victory Capital Management Inc. owned 0.32% of Climb Global Solutions worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CLMB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Climb Global Solutions by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,391 shares of the company's stock worth $303,000 after purchasing an additional 96 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Climb Global Solutions by 28.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 440 shares of the company's stock worth $56,000 after purchasing an additional 97 shares in the last quarter. Northern Trust Corp increased its stake in shares of Climb Global Solutions by 0.3% in the fourth quarter. Northern Trust Corp now owns 48,768 shares of the company's stock worth $6,181,000 after purchasing an additional 137 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Climb Global Solutions by 6.0% in the first quarter. Rhumbline Advisers now owns 4,960 shares of the company's stock worth $549,000 after purchasing an additional 282 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Climb Global Solutions by 3.5% in the fourth quarter. Barclays PLC now owns 8,897 shares of the company's stock worth $1,128,000 after purchasing an additional 300 shares in the last quarter. 49.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Climb Global Solutions

In related news, Director Greg Scorziello sold 5,767 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $100.63, for a total value of $580,333.21. Following the transaction, the director directly owned 1,774 shares in the company, valued at approximately $178,517.62. This represents a 76.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.10% of the company's stock.

Climb Global Solutions Trading Down 5.7%

Shares of Climb Global Solutions 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 53,515. Climb Global Solutions, Inc. has a 1 year low of $59.85 and a 1 year high of $144.99. The company has a market cap of $511.75 million, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 1.65 and a beta of 0.95. The business's 50 day moving average is $105.57 and its two-hundred day moving average is $112.39.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.49. Climb Global Solutions had a net margin of 3.82% and a return on equity of 30.27%. The firm had revenue of $159.28 million for the quarter, compared to the consensus estimate of $113.25 million. On average, equities analysts anticipate that Climb Global Solutions, Inc. will post 4.14 EPS for the current fiscal year.

Climb Global Solutions Dividend Announcement

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 given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, August 11th. Climb Global Solutions's dividend payout ratio is 15.93%.

Analysts Set New Price Targets

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