Climb Global Solutions (NASDAQ:CLMB) Sees Unusually-High Trading Volume - Here's Why

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 42,944 shares were traded during mid-day trading, an increase of 127% from the previous session's volume of 18,901 shares.The stock last traded at $109.80 and had previously closed at $100.18.

Wall Street Analyst Weigh In

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

Climb Global Solutions Stock Up 7.8 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.09 and a current ratio of 1.10. The stock has a 50-day moving average of $98.20 and a two-hundred day moving average of $76.03. The company has a market cap of $497.46 million, a P/E ratio of 29.26, a P/E/G ratio of 2.84 and a beta of 1.06.

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

Climb Global Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 11th will be paid a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 0.63%. Climb Global Solutions's dividend payout ratio (DPR) is currently 18.43%.

Hedge Funds Weigh In On Climb Global Solutions

Large investors have recently bought and sold shares of the stock. New York State Teachers Retirement System purchased a new stake in Climb Global Solutions in the third quarter worth about $38,000. SG Americas Securities LLC purchased a new stake in Climb Global Solutions in the third quarter worth about $159,000. Lazard Asset Management LLC increased its position in Climb Global Solutions by 82.1% in the first quarter. Lazard Asset Management LLC now owns 2,925 shares of the company's stock worth $207,000 after buying an additional 1,319 shares in the last quarter. Rhumbline Advisers increased its position in Climb Global Solutions by 5.9% in the second quarter. Rhumbline Advisers now owns 4,239 shares of the company's stock worth $266,000 after buying an additional 237 shares in the last quarter. Finally, Acuitas Investments LLC increased its position in Climb Global Solutions by 136.4% in the second quarter. Acuitas Investments LLC now owns 5,200 shares of the company's stock worth $327,000 after buying an additional 3,000 shares in the last quarter. 49.72% of the stock is owned by hedge funds and other 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.