Investment management company Cove Street Capital recently released its “Small Cap Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -5.15% compared to -2.19% for the Russell 2000 Index and -4.61% for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Cove Street Capital highlighted stocks like Climb Global Solutions, Inc. (NASDAQ:CLMB) in its third-quarter investor letter. Headquartered in Eatontown, New Jersey, Climb Global Solutions, Inc. (NASDAQ:CLMB) is a value-added information technology. In October 2022, Wayside Technology Group, Inc. rebranded to Climb Global Solutions, Inc. (NASDAQ:CLMB). On November 25, 2022, Climb Global Solutions, Inc. (NASDAQ:CLMB) stock closed at $33.00 per share. One-month return of Climb Global Solutions, Inc. (NASDAQ:CLMB) was 6.45% and its shares gained 2.48% of their value over the last 52 weeks. Climb Global Solutions, Inc. (NASDAQ:CLMB) has a market capitalization of $147.766 million.
Cove Street Capital made the following comment about Climb Global Solutions, Inc. (NASDAQ:CLMB) in its Q3 2022 investor letter:
“Lastly, Climb Global Solutions, Inc. (NASDAQ:CLMB) is a global IT channel company providing both distribution and cloud technology solutions through its Climb (distribution), Grey Matter (UK and Ireland reseller) and Cloud Know How (professional services) operating segments. They sit at an interesting crossroads of emerging technology vendors, that often do not have the bodies and skillset to properly distribute their product, and over 6,000 next level partners and distributors that are too big or too busy to identify next generation product sets. New CEO Dale Foster has done this before: build a sales-focused team, make as series of complementary acquisitions of product and geographic specialists, and grow. The stock appears to us extremely cheap for the growth and cashflow, and again, this is a highly likely target in the intermediate term.”
Photo by Adam Nowakowski 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, 4 hedge fund portfolios held Climb Global Solutions, Inc. (NASDAQ:CLMB) at the end of the third quarter, which was 3 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 15 Biggest Cryptocurrency Exchanges in the World
- 12 Best Asian Stocks To Buy
- 14 Best Agriculture Stocks To Buy Now
Disclosure: None. This article is originally published at Insider Monkey.