Short Interest in Climb Global Solutions, Inc. (NASDAQ:CLMB) Rises By 73.8%

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 52,500 shares, a growth of 73.8% from the September 30th total of 30,200 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 29,300 shares, the short-interest ratio is presently 1.8 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMB. Pinnacle Associates Ltd. raised its holdings in shares of Climb Global Solutions by 66.8% during the third quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company's stock valued at $1,814,000 after buying an additional 7,298 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Climb Global Solutions during the 3rd quarter valued at $38,000. Lakewood Asset Management LLC raised its stake in Climb Global Solutions by 6.6% during the 3rd quarter. Lakewood Asset Management LLC now owns 9,862 shares of the company's stock valued at $982,000 after acquiring an additional 608 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Climb Global Solutions in the third quarter worth $159,000. Finally, Herald Investment Management Ltd grew its stake in shares of Climb Global Solutions by 3.0% in the second quarter. Herald Investment Management Ltd now owns 40,000 shares of the company's stock worth $2,447,000 after purchasing an additional 1,159 shares in the last quarter. 49.72% of the stock is owned by institutional investors and hedge funds.

Climb Global Solutions Stock Performance

CLMB stock traded down $0.99 during midday trading on Friday, reaching $101.69. The company had a trading volume of 17,291 shares, compared to its average volume of 18,172. 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 stock has a 50 day moving average price of $96.67 and a 200 day moving average price of $74.70. The firm has a market capitalization of $468.79 million, a PE ratio of 33.67, a P/E/G ratio of 2.94 and a beta of 1.06. Climb Global Solutions has a fifty-two week low of $40.63 and a fifty-two week high of $110.06.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) 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 firm had revenue of $92.08 million during the quarter, compared to the consensus estimate of $97.27 million. Climb Global Solutions had a return on equity of 18.92% and a net margin of 3.73%. Analysts anticipate that Climb Global Solutions will post 3.28 earnings per share for the current year.

Climb Global Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Friday, August 16th were given a $0.17 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.68 annualized dividend and a yield of 0.67%. Climb Global Solutions's dividend payout ratio is presently 22.52%.

Wall Street Analysts Forecast Growth

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

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.