Climb Global Solutions (NASDAQ:CLMB) Shares Scheduled to Split on Monday, March 23rd

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s stock is going to split before the market opens on Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly created shares will be distributed to shareholders after the closing bell on Friday, March 20th.

Climb Global Solutions Stock Performance

Shares of CLMB opened at $84.76 on Wednesday. Climb Global Solutions has a fifty-two week low of $80.08 and a fifty-two week high of $145.02. The firm has a market cap of $390.74 million, a price-to-earnings ratio of 18.23, a PEG ratio of 1.32 and a beta of 1.18. The firm has a 50 day moving average price of $111.65 and a 200-day moving average price of $117.10.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.27. Climb Global Solutions had a net margin of 3.27% and a return on equity of 21.86%. The company had revenue of $193.85 million during the quarter, compared to analysts’ expectations of $167.75 million. As a group, equities research analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CLMB. Wall Street Zen cut Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings lowered Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Zacks Research upgraded Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Barrington Research decreased their price target on Climb Global Solutions from $136.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $120.00.

Hedge Funds Weigh In On Climb Global Solutions

Several hedge funds and other institutional investors have recently modified their holdings of CLMB. Caitong International Asset Management Co. Ltd grew its stake in shares of Climb Global Solutions by 77,066.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,315 shares of the company’s stock worth $238,000 after purchasing an additional 2,312 shares during the last quarter. Beacon Pointe Advisors LLC raised its position in Climb Global Solutions by 5.5% during the 4th quarter. Beacon Pointe Advisors LLC now owns 3,170 shares of the company’s stock valued at $326,000 after purchasing an additional 164 shares during the last quarter. XTX Topco Ltd bought a new position in Climb Global Solutions during the 4th quarter valued at approximately $325,000. Man Group plc purchased a new stake in Climb Global Solutions in the 4th quarter worth approximately $861,000. Finally, Evolve Private Wealth LLC purchased a new stake in Climb Global Solutions in the 4th quarter worth approximately $529,000. 49.72% of the stock is owned by institutional investors.

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.