Climb Global Solutions (NASDAQ:CLMB) Shares Down 2.6% – Here’s What Happened

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s share price dropped 2.6% during trading on Thursday . The company traded as low as $125.35 and last traded at $125.35. Approximately 15,761 shares changed hands during trading, a decline of 25% from the average daily volume of 21,075 shares. The stock had previously closed at $128.74.

Wall Street Analysts Forecast Growth

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

Climb Global Solutions Price Performance

The stock has a market cap of $581.82 million, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.13. The stock’s 50-day moving average is $123.56 and its 200-day moving average is $95.19.

Climb Global Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 11th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, November 8th. Climb Global Solutions’s dividend payout ratio (DPR) is 18.43%.

Hedge Funds Weigh In On Climb Global Solutions

Institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System purchased a new stake in Climb Global Solutions in the 3rd quarter valued at about $38,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Climb Global Solutions in the third quarter worth approximately $126,000. Quantbot Technologies LP purchased a new stake in Climb Global Solutions in the third quarter valued at approximately $147,000. SG Americas Securities LLC purchased a new stake in Climb Global Solutions in the third quarter valued at approximately $159,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in Climb Global Solutions during the third quarter worth approximately $222,000. 49.72% of the stock is currently owned by institutional investors and hedge funds.

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.