Climb Global Solutions (NASDAQ:CLMB) Shares Gap Up After Dividend Announcement

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s stock price gapped up prior to trading on Thursday following a dividend announcement from the company. The stock had previously closed at $118.81, but opened at $129.59. Climb Global Solutions shares last traded at $141.36, with a volume of 31,784 shares.

The newly announced dividend which will be paid on Friday, March 21st. Shareholders of record on Monday, March 17th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, March 17th. Climb Global Solutions’s dividend payout ratio (DPR) is presently 18.43%.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and issued a $136.00 price objective on shares of Climb Global Solutions in a research note on Thursday.

Climb Global Solutions Trading Up 12.8 %

The business has a 50-day moving average of $126.51 and a 200 day moving average of $115.80. The firm has a market capitalization of $617.29 million, a PE ratio of 36.31, a price-to-earnings-growth ratio of 1.74 and a beta of 1.13.

Institutional Investors Weigh In On Climb Global Solutions

A number of institutional investors have recently added to or reduced their stakes in CLMB. New York State Teachers Retirement System purchased a new stake in shares of Climb Global Solutions during the third quarter valued at approximately $38,000. Summit Investment Advisors Inc. boosted its stake in Climb Global Solutions by 28.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 440 shares of the company’s stock valued at $56,000 after acquiring an additional 97 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Climb Global Solutions by 200.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 477 shares of the company’s stock valued at $60,000 after acquiring an additional 318 shares during the period. State of Wyoming purchased a new stake in shares of Climb Global Solutions during the 4th quarter worth approximately $64,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in Climb Global Solutions in the fourth quarter valued at approximately $120,000. 49.72% of the stock is owned by institutional investors.

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.