Climb Global Solutions (NASDAQ:CLMB) Sees Unusually-High Trading Volume – Here’s Why

Climb Global Solutions, Inc. (NASDAQ:CLMB) shares saw strong trading volume on Monday . 42,944 shares changed hands during trading, an increase of 127% from the previous session’s volume of 18,901 shares.The stock last traded at $109.80 and had previously closed at $100.18.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and issued a $90.00 price target on shares of Climb Global Solutions in a research report on Thursday, October 10th.

Climb Global Solutions Price Performance

The company’s fifty day moving average is $98.20 and its two-hundred day moving average is $76.03. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $497.46 million, a price-to-earnings ratio of 29.26, a price-to-earnings-growth ratio of 2.84 and a beta of 1.06.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.35. The business had revenue of $92.08 million for the quarter, compared to analyst estimates of $97.27 million. Climb Global Solutions had a net margin of 4.11% and a return on equity of 24.44%. Equities research analysts anticipate that Climb Global Solutions, Inc. will post 3.28 earnings per share for the current fiscal year.

Climb Global Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 11th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Friday, November 8th. Climb Global Solutions’s dividend payout ratio is presently 18.43%.

Institutional Trading of Climb Global Solutions

Institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System acquired a new position in Climb Global Solutions during the third quarter valued at approximately $38,000. SG Americas Securities LLC acquired a new stake in shares of Climb Global Solutions in the 3rd quarter valued at approximately $159,000. Lazard Asset Management LLC grew its stake in shares of Climb Global Solutions by 82.1% in the first quarter. Lazard Asset Management LLC now owns 2,925 shares of the company’s stock valued at $207,000 after buying an additional 1,319 shares in the last quarter. Rhumbline Advisers increased its holdings in Climb Global Solutions by 5.9% during the second quarter. Rhumbline Advisers now owns 4,239 shares of the company’s stock worth $266,000 after buying an additional 237 shares during the last quarter. Finally, Acuitas Investments LLC lifted its stake in Climb Global Solutions by 136.4% in the second quarter. Acuitas Investments LLC now owns 5,200 shares of the company’s stock valued at $327,000 after acquiring an additional 3,000 shares during the last quarter. 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.