Climb Global Solutions, Inc. (NASDAQ:CLMB) Short Interest Down 5.7% in August

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

Analysts Set New Price Targets

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

Climb Global Solutions Price Performance

Shares of Climb Global Solutions stock opened at $95.77 on Thursday. The stock has a market capitalization of $441.50 million, a P/E ratio of 37.12, a PEG ratio of 2.42 and a beta of 1.06. The business has a 50 day simple moving average of $79.53 and a two-hundred day simple moving average of $68.29. Climb Global Solutions has a 12 month low of $40.63 and a 12 month high of $97.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.10 and a quick ratio of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.35. Climb Global Solutions had a return on equity of 18.92% and a net margin of 3.73%. The company had revenue of $92.08 million for the quarter, compared to analyst estimates of $97.27 million. As a group, analysts predict that Climb Global Solutions will post 3.28 EPS for the current fiscal year.

Climb Global Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Friday, August 16th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, August 16th. Climb Global Solutions’s dividend payout ratio (DPR) is presently 26.36%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLMB. Russell Investments Group Ltd. increased its position in Climb Global Solutions by 18.1% during the fourth quarter. Russell Investments Group Ltd. now owns 8,188 shares of the company’s stock worth $449,000 after purchasing an additional 1,255 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Climb Global Solutions by 51.1% during the fourth quarter. BNP Paribas Financial Markets now owns 8,061 shares of the company’s stock worth $442,000 after buying an additional 2,725 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Climb Global Solutions by 19.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 17,559 shares of the company’s stock valued at $963,000 after acquiring an additional 2,836 shares during the period. Tieton Capital Management LLC lifted its holdings in shares of Climb Global Solutions by 32.5% in 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 increased its holdings in Climb Global Solutions by 1,836.3% in the 4th quarter. Wasatch Advisors LP now owns 103,203 shares of the company’s stock valued at $5,659,000 after purchasing an additional 97,873 shares during the last quarter. Hedge funds and other 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.