Climb Global Solutions, Inc. (NASDAQ:CLMB) Sees Significant Decline in Short Interest

Climb Global Solutions, Inc. (NASDAQ:CLMB) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 91,300 shares, a decline of 10.5% from the August 15th total of 102,000 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average trading volume of 41,300 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analyst Weigh In

Separately, Barrington Research cut their price target on Climb Global Solutions from $60.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, August 4th.

Institutional Trading of Climb Global Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in CLMB. Acadian Asset Management LLC acquired a new stake in Climb Global Solutions in the 1st quarter valued at $41,000. Bank of America Corp DE acquired a new stake in Climb Global Solutions in the 1st quarter valued at $43,000. Strs Ohio acquired a new stake in Climb Global Solutions in the 2nd quarter valued at $43,000. California State Teachers Retirement System acquired a new stake in Climb Global Solutions in the 2nd quarter valued at $66,000. Finally, UBS Group AG acquired a new stake in Climb Global Solutions in the 1st quarter valued at $85,000. 43.20% of the stock is currently owned by institutional investors and hedge funds.

Climb Global Solutions Trading Down 1.6 %

Shares of CLMB stock traded down $0.65 on Monday, reaching $40.97. 14,966 shares of the stock were exchanged, compared to its average volume of 28,393. The stock has a market cap of $187.19 million, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.19 and a beta of 0.94. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $44.05 and a two-hundred day moving average of $47.31. Climb Global Solutions has a 1-year low of $24.65 and a 1-year high of $55.70.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.27. The business had revenue of $81.73 million during the quarter, compared to the consensus estimate of $85.88 million. Climb Global Solutions had a return on equity of 22.69% and a net margin of 3.52%. On average, research analysts anticipate that Climb Global Solutions will post 2.93 EPS for the current year.

Climb Global Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 14th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.66%. Climb Global Solutions’s payout ratio is 26.05%.

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 and hardware 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.