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

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 31,500 shares, a decline of 5.7% from the August 15th total of 33,400 shares. Based on an average daily volume of 21,200 shares, the short-interest ratio is currently 1.5 days. Approximately 0.8% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CLMB. Russell Investments Group Ltd. grew its position in Climb Global Solutions by 18.1% during the 4th quarter. Russell Investments Group Ltd. now owns 8,188 shares of the company’s stock worth $449,000 after acquiring an additional 1,255 shares during the last quarter. BNP Paribas Financial Markets grew its position in Climb Global Solutions by 51.1% during the 4th quarter. BNP Paribas Financial Markets now owns 8,061 shares of the company’s stock worth $442,000 after acquiring an additional 2,725 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Climb Global Solutions by 19.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,559 shares of the company’s stock worth $963,000 after acquiring an additional 2,836 shares during the last quarter. Tieton Capital Management LLC grew its position in Climb Global Solutions by 32.5% during the 4th quarter. Tieton Capital Management LLC now owns 123,404 shares of the company’s stock worth $6,766,000 after acquiring an additional 30,248 shares during the last quarter. Finally, Wasatch Advisors LP grew its position in Climb Global Solutions by 1,836.3% during the 4th quarter. Wasatch Advisors LP now owns 103,203 shares of the company’s stock worth $5,659,000 after acquiring an additional 97,873 shares during the last quarter. 49.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Barrington Research restated an “outperform” rating and set a $90.00 price objective on shares of Climb Global Solutions in a research report on Wednesday, August 21st.

Climb Global Solutions Stock Performance

CLMB opened at $94.59 on Wednesday. The stock’s 50 day simple moving average is $78.81 and its 200-day simple moving average is $68.13. Climb Global Solutions has a 1 year low of $40.42 and a 1 year high of $97.00. The stock has a market cap of $436.06 million, a PE ratio of 36.66, a P/E/G ratio of 2.42 and a beta of 1.06. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.01.

Climb Global Solutions (NASDAQ:CLMB) last posted its earnings results on Tuesday, August 6th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.35. The business had revenue of $92.08 million for the quarter, compared to analyst estimates of $97.27 million. Climb Global Solutions had a net margin of 3.73% and a return on equity of 18.92%. Sell-side analysts forecast that Climb Global Solutions will post 3.28 EPS for the current year.

Climb Global Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Friday, August 16th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 16th. Climb Global Solutions’s payout ratio is 26.36%.

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.