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

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

Climb Global Solutions Price Performance

Shares of CLMB stock opened at $101.27 on Monday. Climb Global Solutions has a one year low of $49.70 and a one year high of $145.00. The stock has a fifty day moving average price of $111.02 and a 200 day moving average price of $120.17. The stock has a market cap of $466.55 million, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.74 and a beta of 1.13.

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

Climb Global Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Monday, May 12th will be paid a $0.17 dividend. The ex-dividend date of this dividend 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 currently 16.75%.

Insider Activity at Climb Global Solutions

In other Climb Global Solutions news, Director Andrew S. Bryant sold 2,543 shares of Climb Global Solutions stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $125.50, for a total value of $319,146.50. Following the transaction, the director now directly owns 11,261 shares of the company’s stock, valued at $1,413,255.50. The trade was a 18.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dale Richard Foster sold 2,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 82,740 shares of the company’s stock, valued at $9,139,460.40. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,764 shares of company stock worth $2,799,426. 9.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Climb Global Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. acquired a new position in Climb Global Solutions during the first quarter worth $356,000. MeadowBrook Investment Advisors LLC increased its position in shares of Climb Global Solutions by 61.1% during the 1st quarter. MeadowBrook Investment Advisors LLC now owns 1,530 shares of the company’s stock worth $169,000 after purchasing an additional 580 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Climb Global Solutions during the 1st quarter valued at about $349,000. Flagship Harbor Advisors LLC boosted its position in Climb Global Solutions by 18.0% in the first quarter. Flagship Harbor Advisors LLC now owns 2,324 shares of the company’s stock valued at $257,000 after buying an additional 354 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Climb Global Solutions by 6.0% in the first quarter. Rhumbline Advisers now owns 4,960 shares of the company’s stock valued at $549,000 after buying an additional 282 shares in the last quarter. Institutional investors own 49.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.