Climb Global Solutions (NASDAQ:CLMB) Reaches New 52-Week High Following Analyst Upgrade

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) hit a new 52-week high during mid-day trading on Tuesday after Barrington Research raised their price target on the stock from $90.00 to $136.00. Barrington Research currently has an outperform rating on the stock. Climb Global Solutions traded as high as $124.23 and last traded at $124.23, with a volume of 7609 shares. The stock had previously closed at $120.13.

Hedge Funds Weigh In On Climb Global Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in shares of Climb Global Solutions during the third quarter worth about $147,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Climb Global Solutions during the third quarter worth about $126,000. Navellier & Associates Inc. purchased a new position in shares of Climb Global Solutions during the third quarter worth about $322,000. Foundry Partners LLC grew its holdings 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 worth $3,551,000 after buying an additional 330 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Climb Global Solutions by 314.5% during the third quarter. Royce & Associates LP now owns 35,919 shares of the company’s stock worth $3,575,000 after buying an additional 27,254 shares during the last quarter. Hedge funds and other institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Stock Up 0.3 %

The stock has a fifty day moving average of $102.10 and a 200-day moving average of $78.83. The stock has a market cap of $560.44 million, a PE ratio of 32.95, a price-to-earnings-growth ratio of 3.36 and a beta of 1.06.

Climb Global Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 11th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, November 8th. Climb Global Solutions’s dividend payout ratio is currently 18.43%.

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.