Insider Selling: Climb Global Solutions, Inc. (NASDAQ:CLMB) Insider Sells 8,117 Shares of Stock

Climb Global Solutions, Inc. (NASDAQ:CLMB) insider Charles Edward Bass sold 8,117 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $124.71, for a total value of $1,012,271.07. Following the completion of the sale, the insider now directly owns 25,792 shares of the company’s stock, valued at approximately $3,216,520.32. This represents a 23.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Climb Global Solutions Trading Down 6.3 %

NASDAQ:CLMB opened at $111.21 on Friday. The company has a market capitalization of $512.34 million, a P/E ratio of 30.14, a PEG ratio of 1.74 and a beta of 1.18. Climb Global Solutions, Inc. has a 12 month low of $49.70 and a 12 month high of $145.00. The firm has a fifty day simple moving average of $126.39 and a 200-day simple moving average of $117.11.

Climb Global Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 17th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 17th. This represents a $0.68 dividend on an annualized basis and a yield of 0.61%. Climb Global Solutions’s dividend payout ratio is currently 16.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLMB. New York State Teachers Retirement System acquired a new stake in shares of Climb Global Solutions during the third quarter worth about $38,000. Summit Investment Advisors Inc. lifted its stake in Climb Global Solutions by 28.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 440 shares of the company’s stock valued at $56,000 after acquiring an additional 97 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Climb Global Solutions by 200.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 477 shares of the company’s stock valued at $60,000 after acquiring an additional 318 shares during the last quarter. State of Wyoming acquired a new stake in shares of Climb Global Solutions in the fourth quarter worth $64,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of Climb Global Solutions during the fourth quarter worth $120,000. 49.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $136.00 price objective on shares of Climb Global Solutions in a research report on Thursday, March 6th.

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.