Climb Global Solutions, Inc. (NASDAQ:CLMB) Sees Large Growth in Short Interest

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 62,600 shares, a growth of 19.2% from the October 15th total of 52,500 shares. Currently, 1.6% of the company's stock are sold short. Based on an average trading volume of 32,700 shares, the short-interest ratio is presently 1.9 days.

Climb Global Solutions Stock Performance

NASDAQ:CLMB traded down $0.41 during mid-day trading on Friday, hitting $120.80. 21,977 shares of the stock were exchanged, compared to its average volume of 36,277. Climb Global Solutions has a fifty-two week low of $45.79 and a fifty-two week high of $124.50. The stock has a market capitalization of $556.89 million, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 1.82 and a beta of 1.06. The firm's 50-day simple moving average is $103.38 and its 200 day simple moving average is $79.69.

Climb Global Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 11th were issued 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 0.56%. Climb Global Solutions's payout ratio is presently 18.43%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research lifted their price objective on shares of Climb Global Solutions from $90.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th.

Institutional Trading of Climb Global Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in shares of Climb Global Solutions by 5.9% during the 2nd quarter. Rhumbline Advisers now owns 4,239 shares of the company's stock valued at $266,000 after purchasing an additional 237 shares in the last quarter. Foundry Partners LLC lifted its position in shares of Climb Global Solutions by 0.9% during the third 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 purchased a new position in shares of Climb Global Solutions in the 3rd quarter worth approximately $38,000. Martingale Asset Management L P boosted its position 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 during the last quarter. Finally, Lakewood Asset Management LLC grew its position in Climb Global Solutions by 6.6% during 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 period. 49.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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