Climb Global Solutions (NASDAQ:CLMB) Stock Price Down 4.9% – What’s Next?

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s stock price traded down 4.9% during trading on Friday . The stock traded as low as $118.25 and last traded at $118.25. 10,050 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 20,959 shares. The stock had previously closed at $124.38.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and set a $136.00 price objective on shares of Climb Global Solutions in a research note on Thursday, December 12th.

Climb Global Solutions Trading Up 0.2 %

The stock has a market cap of $574.03 million, a PE ratio of 33.77, a P/E/G ratio of 1.92 and a beta of 1.13. The company’s 50 day moving average is $121.60 and its 200-day moving average is $92.73.

Climb Global Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 11th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Friday, November 8th. 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 the business. Rhumbline Advisers raised its holdings in Climb Global Solutions by 5.9% in the second quarter. Rhumbline Advisers now owns 4,239 shares of the company’s stock valued at $266,000 after acquiring an additional 237 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Climb Global Solutions by 0.9% in the 3rd quarter. Foundry Partners LLC now owns 35,675 shares of the company’s stock valued at $3,551,000 after purchasing an additional 330 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Climb Global Solutions during the third quarter worth about $38,000. Martingale Asset Management L P grew its stake in Climb Global Solutions by 8.4% in the third quarter. Martingale Asset Management L P now owns 5,007 shares of the company’s stock worth $498,000 after purchasing an additional 388 shares in the last quarter. Finally, Lakewood Asset Management LLC increased its holdings in Climb Global Solutions by 6.6% in the third quarter. Lakewood Asset Management LLC now owns 9,862 shares of the company’s stock valued at $982,000 after buying an additional 608 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.