Sowell Financial Services LLC Invests $1.49 Million in Climb Global Solutions, Inc. (NASDAQ:CLMB)

Sowell Financial Services LLC bought a new position in Climb Global Solutions, Inc. (NASDAQ:CLMB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,747 shares of the company’s stock, valued at approximately $1,489,000.

A number of other institutional investors have also recently modified their holdings of CLMB. New York State Teachers Retirement System bought a new stake in Climb Global Solutions in the 3rd quarter worth about $38,000. Janney Montgomery Scott LLC increased its holdings in Climb Global Solutions by 17.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 23,030 shares of the company’s stock worth $2,292,000 after buying an additional 3,463 shares in the last quarter. Royce & Associates LP increased its holdings in Climb Global Solutions by 314.5% in the 3rd quarter. Royce & Associates LP now owns 35,919 shares of the company’s stock worth $3,575,000 after buying an additional 27,254 shares in the last quarter. Foundry Partners LLC increased its holdings in Climb Global Solutions by 0.9% in the 3rd quarter. Foundry Partners LLC now owns 35,675 shares of the company’s stock worth $3,551,000 after buying an additional 330 shares in the last quarter. Finally, Navellier & Associates Inc. bought a new stake in Climb Global Solutions in the 3rd quarter worth about $322,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and issued a $136.00 price objective on shares of Climb Global Solutions in a report on Thursday, March 6th.

Climb Global Solutions Stock Performance

NASDAQ CLMB opened at $123.55 on Tuesday. The stock has a 50-day moving average of $126.67 and a 200 day moving average of $116.89. The company has a market capitalization of $569.19 million, a price-to-earnings ratio of 33.48, a PEG ratio of 1.74 and a beta of 1.18. Climb Global Solutions, Inc. has a one year low of $49.70 and a one year high of $145.00.

Climb Global Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.55%. Climb Global Solutions’s dividend payout ratio is currently 16.75%.

Climb Global Solutions 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.