Graham Capital Management L.P. Acquires New Holdings in N-able, Inc. (NYSE:NABL)

Graham Capital Management L.P. bought a new position in N-able, Inc. (NYSE:NABL - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 74,716 shares of the company's stock, valued at approximately $698,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NABL. Blue Trust Inc. raised its stake in N-able by 95.5% during the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock worth $29,000 after buying an additional 1,528 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of N-able during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC lifted its holdings in shares of N-able by 67.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $30,000 after purchasing an additional 1,309 shares in the last quarter. KBC Group NV increased its stake in N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company's stock worth $51,000 after purchasing an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in N-able during the 4th quarter worth approximately $83,000. 96.35% of the stock is owned by institutional investors.

N-able Stock Performance

NYSE NABL traded down $0.03 during trading on Tuesday, reaching $8.03. The company's stock had a trading volume of 155,780 shares, compared to its average volume of 1,101,479. N-able, Inc. has a 12 month low of $6.07 and a 12 month high of $15.48. The firm has a 50 day moving average price of $7.17 and a 200 day moving average price of $8.88. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 40.13 and a beta of 0.57. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.08 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 6.31% and a net margin of 8.08%. N-able's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 earnings per share. As a group, equities analysts anticipate that N-able, Inc. will post 0.27 EPS for the current fiscal year.

N-able declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

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

N-able Company Profile

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.