GAMMA Investing LLC Increases Position in N-able, Inc. (NYSE:NABL)

GAMMA Investing LLC lifted its holdings in N-able, Inc. (NYSE:NABL - Free Report) by 2,967.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,019 shares of the company's stock after acquiring an additional 73,541 shares during the period. GAMMA Investing LLC's holdings in N-able were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NABL. Norges Bank bought a new position in shares of N-able in the 4th quarter worth about $3,450,000. Applied Fundamental Research LLC raised its position in shares of N-able by 32.8% in the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock worth $10,116,000 after acquiring an additional 267,399 shares in the last quarter. Millennium Management LLC increased its position in N-able by 48.6% in the 4th quarter. Millennium Management LLC now owns 791,871 shares of the company's stock valued at $7,396,000 after buying an additional 258,979 shares in the last quarter. Crescent Park Management L.P. increased its position in N-able by 32.0% in the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company's stock valued at $8,854,000 after buying an additional 229,943 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in N-able by 86.5% in the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company's stock valued at $3,895,000 after buying an additional 193,387 shares in the last quarter. 96.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NABL shares. William Blair reaffirmed an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of N-able in a research report on Monday, May 5th. Scotiabank boosted their target price on N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a research report on Friday, March 14th. Royal Bank Of Canada decreased their target price on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $8.50 target price (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Stock Down 4.5%

NABL stock traded down $0.36 during mid-day trading on Friday, reaching $7.54. 1,633,162 shares of the company traded hands, compared to its average volume of 795,102. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 83.72 and a beta of 0.61. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.42. N-able, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $15.49. The firm's 50 day moving average price is $7.52 and its 200 day moving average price is $8.41.

N-able (NYSE:NABL - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $118.20 million during the quarter, compared to the consensus estimate of $115.65 million. N-able had a return on equity of 5.20% and a net margin of 3.47%. The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, equities research analysts predict that N-able, Inc. will post 0.27 EPS for the current fiscal year.

N-able declared that its board has initiated a share repurchase plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy up to 5.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

About N-able

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.