Merit Financial Group LLC Takes $218,000 Position in Climb Global Solutions, Inc. (NASDAQ:CLMB)

Merit Financial Group LLC acquired a new position in Climb Global Solutions, Inc. (NASDAQ:CLMB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,979 shares of the company’s stock, valued at approximately $218,000. Merit Financial Group LLC owned about 0.09% of Climb Global Solutions as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CLMB. Allspring Global Investments Holdings LLC bought a new position in shares of Climb Global Solutions during the third quarter valued at $95,000. Strs Ohio lifted its stake in Climb Global Solutions by 177.8% during the 3rd quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $107,000 after acquiring an additional 1,600 shares during the period. Barclays PLC boosted its holdings in shares of Climb Global Solutions by 23.8% during the 3rd quarter. Barclays PLC now owns 4,707 shares of the company’s stock valued at $203,000 after acquiring an additional 904 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Climb Global Solutions by 18.1% in the fourth 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 period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Climb Global Solutions by 28.2% during the third quarter. Janney Montgomery Scott LLC now owns 14,723 shares of the company’s stock valued at $633,000 after purchasing an additional 3,241 shares during the last quarter. 49.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Barrington Research cut their target price on shares of Climb Global Solutions from $76.00 to $68.00 and set an “outperform” rating for the company in a research report on Monday.

Insider Activity

In related news, CMO Charles Edward Bass sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.05, for a total value of $32,525.00. Following the transaction, the chief marketing officer now directly owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Climb Global Solutions news, CMO Charles Edward Bass sold 500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $65.05, for a total value of $32,525.00. Following the completion of the sale, the chief marketing officer now owns 37,097 shares in the company, valued at $2,413,159.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dale Richard Foster sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total value of $229,215.00. Following the completion of the transaction, the chief executive officer now directly owns 102,092 shares in the company, valued at approximately $6,686,005.08. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

Climb Global Solutions Stock Down 2.0 %

Climb Global Solutions stock opened at $55.24 on Friday. The stock has a market cap of $253.28 million, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.08 and a current ratio of 1.09. The stock has a fifty day moving average of $66.75 and a 200 day moving average of $57.44. Climb Global Solutions, Inc. has a one year low of $37.67 and a one year high of $73.25.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.15). The business had revenue of $92.42 million during the quarter, compared to the consensus estimate of $105.44 million. Climb Global Solutions had a return on equity of 18.93% and a net margin of 3.26%. During the same quarter last year, the company earned $0.74 EPS. As a group, sell-side analysts predict that Climb Global Solutions, Inc. will post 2.92 EPS for the current year.

Climb Global Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, May 10th. Climb Global Solutions’s payout ratio is 26.36%.

About Climb Global Solutions

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.