Climb Global Solutions, Inc. (NASDAQ:CLMB) Sees Large Growth in Short Interest

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the target of a large growth in short interest in the month of February. As of February 29th, there was short interest totalling 51,800 shares, a growth of 5.9% from the February 14th total of 48,900 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily volume of 11,500 shares, the days-to-cover ratio is presently 4.5 days.

Climb Global Solutions Price Performance

NASDAQ:CLMB traded up $0.69 during trading hours on Monday, hitting $68.19. The company’s stock had a trading volume of 7,275 shares, compared to its average volume of 10,647. The stock has a fifty day simple moving average of $59.00 and a 200-day simple moving average of $51.14. The company has a market capitalization of $311.63 million, a P/E ratio of 25.07, a PEG ratio of 2.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.07 and a quick ratio of 1.06. Climb Global Solutions has a twelve month low of $37.67 and a twelve month high of $73.25.

Climb Global Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 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 1.00%. The ex-dividend date was Friday, March 8th. Climb Global Solutions’s payout ratio is 25.00%.

Analysts Set New Price Targets

Separately, Barrington Research increased their target price on Climb Global Solutions from $48.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th.

Insider Activity at Climb Global Solutions

In other news, CEO Dale Richard Foster sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total transaction of $229,215.00. Following the completion of the transaction, the chief executive officer now directly owns 102,092 shares of the company’s stock, valued at approximately $6,686,005.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Climb Global Solutions

A number of hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position in shares of Climb Global Solutions by 94.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 505 shares of the company’s stock valued at $28,000 after buying an additional 245 shares during the last quarter. Northern Trust Corp boosted its position in Climb Global Solutions by 0.5% in the third quarter. Northern Trust Corp now owns 49,519 shares of the company’s stock worth $2,130,000 after purchasing an additional 252 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Climb Global Solutions by 1.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company’s stock worth $999,000 after purchasing an additional 258 shares during the last quarter. First Trust Advisors LP boosted its position in Climb Global Solutions by 2.7% in the fourth quarter. First Trust Advisors LP now owns 10,950 shares of the company’s stock worth $600,000 after purchasing an additional 286 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Climb Global Solutions by 2.2% in the second quarter. Royal Bank of Canada now owns 13,107 shares of the company’s stock worth $628,000 after purchasing an additional 288 shares during the last quarter. 43.20% of the stock is currently owned by institutional investors.

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 and hardware 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.