Climb Global Solutions (NASDAQ:CLMB) Shares Gap Up After Dividend Announcement

Climb Global Solutions, Inc. (NASDAQ:CLMB) shares gapped up prior to trading on Thursday following a dividend announcement from the company. The stock had previously closed at $118.81, but opened at $129.59. Climb Global Solutions shares last traded at $141.36, with a volume of 31,784 shares changing hands.

The newly announced dividend which will be paid on Friday, March 21st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.52%. Climb Global Solutions’s dividend payout ratio is 18.43%.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an “outperform” rating and issued a $136.00 price target on shares of Climb Global Solutions in a research note on Thursday, December 12th.

Climb Global Solutions Stock Performance

The stock has a market capitalization of $598.51 million, a P/E ratio of 37.12, a PEG ratio of 1.74 and a beta of 1.13. The firm has a fifty day moving average price of $126.71 and a two-hundred day moving average price of $115.78.

Institutional Trading of Climb Global Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Climb Global Solutions during the fourth quarter valued at about $722,000. Tidal Investments LLC bought a new position in shares of Climb Global Solutions during the 4th quarter valued at approximately $289,000. State of Wyoming bought a new position in shares of Climb Global Solutions during the 4th quarter valued at approximately $64,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Climb Global Solutions by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,391 shares of the company’s stock worth $303,000 after buying an additional 96 shares during the period. Finally, Lazard Asset Management LLC increased its position in Climb Global Solutions by 195.2% during the fourth quarter. Lazard Asset Management LLC now owns 10,780 shares of the company’s stock valued at $1,366,000 after acquiring an additional 7,128 shares during the last quarter. 49.72% 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 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.