Pinnacle Associates Ltd. Has $1.81 Million Stock Position in Climb Global Solutions, Inc. (NASDAQ:CLMB)

Pinnacle Associates Ltd. increased its position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 66.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,221 shares of the company's stock after purchasing an additional 7,298 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.40% of Climb Global Solutions worth $1,814,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CLMB. New York State Teachers Retirement System bought a new stake in Climb Global Solutions during the 3rd quarter worth about $38,000. SG Americas Securities LLC bought a new stake in Climb Global Solutions during the 3rd quarter worth about $159,000. Lazard Asset Management LLC grew its holdings in Climb Global Solutions by 82.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,925 shares of the company's stock worth $207,000 after acquiring an additional 1,319 shares during the last quarter. Rhumbline Advisers grew its holdings in Climb Global Solutions by 5.9% during the 2nd quarter. Rhumbline Advisers now owns 4,239 shares of the company's stock worth $266,000 after acquiring an additional 237 shares during the last quarter. Finally, Acuitas Investments LLC grew its holdings in Climb Global Solutions by 136.4% during the 2nd quarter. Acuitas Investments LLC now owns 5,200 shares of the company's stock worth $327,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 49.72% of the company's stock.

Analysts Set New Price Targets

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

Climb Global Solutions Trading Down 2.2 %

Shares of NASDAQ CLMB traded down $2.21 during mid-day trading on Friday, hitting $100.18. The company's stock had a trading volume of 76,174 shares, compared to its average volume of 32,016. The stock has a market cap of $461.83 million, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.10 and a quick ratio of 1.09. Climb Global Solutions, Inc. has a one year low of $40.63 and a one year high of $118.59. The company's fifty day simple moving average is $98.20 and its 200-day simple moving average is $75.90.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.35. Climb Global Solutions had a net margin of 4.11% and a return on equity of 24.44%. The business had revenue of $92.08 million for the quarter, compared to analyst estimates of $97.27 million. On average, sell-side analysts anticipate that Climb Global Solutions, Inc. will post 3.28 earnings per share for the current fiscal year.

Climb Global Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 11th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, November 8th. Climb Global Solutions's payout ratio is 18.43%.

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.