Janney Montgomery Scott LLC Acquires 59,758 Shares of Climb Global Solutions, Inc. $CLMB

Janney Montgomery Scott LLC raised its position in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) by 307.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,185 shares of the company’s stock after purchasing an additional 59,758 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Climb Global Solutions were worth $1,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in Climb Global Solutions by 305.9% in the 1st quarter. Venturi Wealth Management LLC now owns 13,260 shares of the company’s stock worth $263,000 after buying an additional 9,993 shares during the period. Wasatch Advisors LP boosted its stake in shares of Climb Global Solutions by 116.1% in the first quarter. Wasatch Advisors LP now owns 607,680 shares of the company’s stock worth $12,044,000 after acquiring an additional 326,520 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Climb Global Solutions by 171.4% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 14,456 shares of the company’s stock worth $287,000 after purchasing an additional 9,130 shares in the last quarter. Evolve Private Wealth LLC grew its position in shares of Climb Global Solutions by 323.3% during the first quarter. Evolve Private Wealth LLC now owns 21,802 shares of the company’s stock worth $432,000 after purchasing an additional 16,652 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in Climb Global Solutions by 77,066.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,315 shares of the company’s stock valued at $238,000 after purchasing an additional 2,312 shares during the period. 49.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John R. Mccarthy purchased 4,000 shares of Climb Global Solutions stock in a transaction dated Monday, May 4th. The shares were acquired at an average cost of $18.83 per share, with a total value of $75,320.00. Following the purchase, the director owned 85,876 shares of the company’s stock, valued at approximately $1,617,045.08. The trade was a 4.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CLMB has been the subject of several recent analyst reports. Northcoast Research upgraded Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd. Barrington Research reissued an “outperform” rating and issued a $30.00 target price on shares of Climb Global Solutions in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Northland Securities initiated coverage on Climb Global Solutions in a report on Monday, March 23rd. They set an “outperform” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Climb Global Solutions Trading Down 0.4%

Shares of CLMB opened at $25.73 on Friday. The firm has a market cap of $478.58 million, a PE ratio of 22.57, a P/E/G ratio of 1.63 and a beta of 1.09. The stock has a fifty day moving average price of $22.00 and a 200-day moving average price of $24.01. Climb Global Solutions, Inc. has a 12 month low of $15.24 and a 12 month high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%.The company had revenue of $182.38 million for the quarter, compared to analyst estimates of $151.33 million. As a group, research analysts forecast that Climb Global Solutions, Inc. will post 1.32 EPS for the current year.

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.