Should You Consider Reducing Your Exposure in Climb Global Solutions (CLMB)?

Investment management company Cove Street Capital recently released its “Small Cap Value Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 2.83% compared to 2.74% for the Russell 2000 Index and -0.66% for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Cove Street Capital Small Cap Value Fund highlighted stocks like Climb Global Solutions, Inc. (NASDAQ:CLMB) in the first quarter 2023 investor letter. Headquartered in Eatontown, New Jersey, Climb Global Solutions, Inc. (NASDAQ:CLMB) is a value-added information technology company. On April 10, 2023, Climb Global Solutions, Inc. (NASDAQ:CLMB) stock closed at $52.78 per share. One-month return of Climb Global Solutions, Inc. (NASDAQ:CLMB) was 8.29%, and its shares gained 54.28% of their value over the last 52 weeks. Climb Global Solutions, Inc. (NASDAQ:CLMB) has a market capitalization of $238.389 million.

Cove Street Capital Small Cap Value Fund made the following comment about Climb Global Solutions, Inc. (NASDAQ:CLMB) in its Q1 2023 investor letter:

Climb Global Solutions, Inc. (NASDAQ:CLMB) continues to execute its organic growth strategy of identifying and distributing new software solutions, particularly in the still-hot cloud and security ecospheres. We have somewhat reduced our position on valuation and a sense of difficulty in the tech space overall, but we remain impressed with management’s execution on top of an excellent business mode.”

software

Photo by Hack Capital on Unsplash

Climb Global Solutions, Inc. (NASDAQ:CLMB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 3 hedge fund portfolios held Climb Global Solutions, Inc. (NASDAQ:CLMB) at the end of the fourth quarter which was 4 in the previous quarter.

We discussed Climb Global Solutions, Inc. (NASDAQ:CLMB) in another article and shared Cove Street Capital Small Cap Value Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.