Climb Global Solutions, Inc. (NASDAQ:CLMB) Short Interest Up 23.3% in April

Climb Global Solutions, Inc. (NASDAQ:CLMB) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 127,200 shares, an increase of 23.3% from the March 31st total of 103,200 shares. Based on an average daily trading volume, of 31,400 shares, the days-to-cover ratio is currently 4.1 days. Currently, 3.3% of the company’s shares are short sold.

Climb Global Solutions Trading Up 0.7 %

NASDAQ:CLMB opened at $101.27 on Friday. The company has a 50-day moving average price of $111.02 and a 200-day moving average price of $120.00. The stock has a market cap of $466.55 million, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.74 and a beta of 1.13. Climb Global Solutions has a 12 month low of $49.70 and a 12 month high of $145.00.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.03). Climb Global Solutions had a net margin of 4.11% and a return on equity of 23.63%. The firm had revenue of $138.04 million for the quarter, compared to the consensus estimate of $96.86 million. Equities analysts forecast that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Climb Global Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 12th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, May 12th. This represents a $0.68 annualized dividend and a dividend yield of 0.67%. Climb Global Solutions’s dividend payout ratio is presently 16.75%.

Analyst Ratings Changes

Separately, Barrington Research reissued an “outperform” rating and set a $136.00 target price on shares of Climb Global Solutions in a research note on Thursday, April 24th.

Insider Buying and Selling

In related news, insider Charles Edward Bass sold 8,117 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $124.71, for a total value of $1,012,271.07. Following the sale, the insider now directly owns 25,792 shares of the company’s stock, valued at $3,216,520.32. This trade represents a 23.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dale Richard Foster sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $110.46, for a total value of $220,920.00. Following the transaction, the chief executive officer now directly owns 82,740 shares of the company’s stock, valued at $9,139,460.40. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,764 shares of company stock valued at $2,799,426 over the last three months. 9.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Climb Global Solutions

Institutional investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its position in shares of Climb Global Solutions by 28.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 440 shares of the company’s stock worth $56,000 after buying an additional 97 shares during the period. Tower Research Capital LLC TRC boosted its stake in Climb Global Solutions by 200.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 477 shares of the company’s stock worth $60,000 after acquiring an additional 318 shares in the last quarter. State of Wyoming purchased a new stake in Climb Global Solutions in the fourth quarter worth about $64,000. MeadowBrook Investment Advisors LLC bought a new position in shares of Climb Global Solutions during the fourth quarter valued at approximately $120,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Climb Global Solutions during the fourth quarter valued at approximately $209,000. Institutional investors own 49.72% of the company’s stock.

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 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.