Climb Global Solutions, Inc. (NASDAQ:CLMB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 33.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,154 shares of the company's stock after selling 12,488 shares during the period. Bank of New York Mellon Corp owned 0.55% of Climb Global Solutions worth $3,188,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CLMB. Foundry Partners LLC boosted its holdings in Climb Global Solutions by 0.9% during the third 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. Navellier & Associates Inc. purchased a new stake in Climb Global Solutions during the third quarter worth $322,000. Harvest Fund Management Co. Ltd purchased a new stake in Climb Global Solutions during the third quarter worth $126,000. Quantbot Technologies LP purchased a new stake in Climb Global Solutions during the third quarter worth $147,000. Finally, De Lisle Partners LLP boosted its holdings in Climb Global Solutions by 24.1% during the third quarter. De Lisle Partners LLP now owns 194,280 shares of the company's stock worth $19,272,000 after buying an additional 37,747 shares in the last quarter. 49.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Climb Global Solutions

In other news, Director Andrew S. Bryant sold 2,543 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $125.50, for a total value of $319,146.50. Following the completion of the sale, the director now directly owns 11,261 shares in the company, valued at $1,413,255.50. This represents a 18.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Edward Bass sold 8,117 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $124.71, for a total transaction of $1,012,271.07. Following the completion of the sale, the insider now owns 25,792 shares of the company's stock, valued at $3,216,520.32. This trade represents a 23.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,764 shares of company stock valued at $2,799,426 over the last ninety days. Corporate insiders own 9.60% of the company's stock.

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Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an "outperform" rating and set a $136.00 price objective on shares of Climb Global Solutions in a report on Thursday, March 6th.

Climb Global Solutions Trading Up 1.4 %

CLMB traded up $1.58 during midday trading on Friday, hitting $117.38. 57,035 shares of the company traded hands, compared to its average volume of 25,765. The company has a market capitalization of $540.77 million, a price-to-earnings ratio of 31.81, a PEG ratio of 1.74 and a beta of 1.18. Climb Global Solutions, Inc. has a 52-week low of $49.70 and a 52-week high of $145.00. The business has a 50 day simple moving average of $124.85 and a two-hundred day simple moving average of $118.13.

Climb Global Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 17th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Monday, March 17th. Climb Global Solutions's payout ratio is 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.