Climb Global Solutions (NASDAQ:CLMB) Trading Down 2.6% – What’s Next?

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) dropped 2.6% during trading on Thursday . The stock traded as low as $125.35 and last traded at $125.35. Approximately 15,761 shares traded 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 reaffirmed an “outperform” rating and issued a $136.00 price target on shares of Climb Global Solutions in a report on Thursday, December 12th.

Climb Global Solutions Trading Down 2.6 %

The stock has a market capitalization of $577.49 million, a PE ratio of 33.97, a PEG ratio of 1.92 and a beta of 1.13. The firm’s 50-day simple moving average is $122.77 and its two-hundred day simple moving average is $94.46.

Climb Global Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 11th were given a $0.17 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 0.54%. Climb Global Solutions’s payout ratio is 18.43%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CLMB. De Lisle Partners LLP raised its position in Climb Global Solutions by 24.1% during the third quarter. De Lisle Partners LLP now owns 194,280 shares of the company’s stock valued at $19,272,000 after acquiring an additional 37,747 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Climb Global Solutions by 1.0% in the third quarter. Geode Capital Management LLC now owns 92,143 shares of the company’s stock worth $9,173,000 after purchasing an additional 881 shares in the last quarter. Choreo LLC acquired a new position in Climb Global Solutions during the second quarter worth $4,491,000. State Street Corp lifted its position in shares of Climb Global Solutions by 12.5% in the third quarter. State Street Corp now owns 62,692 shares of the company’s stock worth $6,240,000 after buying an additional 6,979 shares during the last quarter. Finally, Herald Investment Management Ltd lifted its holdings in Climb Global Solutions by 3.0% in the 2nd quarter. Herald Investment Management Ltd now owns 40,000 shares of the company’s stock worth $2,447,000 after purchasing an additional 1,159 shares during the last quarter. Hedge funds and other institutional investors own 49.72% of the company’s stock.

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.