Graham Capital Management L.P. Acquires Shares of 74,716 N-able, Inc. (NYSE:NABL)

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

A number of other hedge funds have also modified their holdings of NABL. Vanguard Group Inc. increased its position in shares of N-able by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock worth $87,146,000 after purchasing an additional 161,725 shares during the last quarter. Crescent Park Management L.P. raised its position in N-able by 32.0% during the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company's stock worth $8,854,000 after acquiring an additional 229,943 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in N-able by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock valued at $4,552,000 after acquiring an additional 16,253 shares during the last quarter. Barclays PLC grew its position in shares of N-able by 398.2% in the 3rd quarter. Barclays PLC now owns 143,095 shares of the company's stock valued at $1,869,000 after acquiring an additional 114,374 shares during the period. Finally, Topline Capital Management LLC acquired a new position in shares of N-able during the 4th quarter worth about $966,000. 96.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

N-able Stock Performance

NYSE NABL traded up $0.17 on Friday, reaching $8.32. The stock had a trading volume of 1,183,185 shares, compared to its average volume of 758,099. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The company has a market cap of $1.57 billion, a P/E ratio of 41.58 and a beta of 0.57. The firm has a fifty day moving average of $7.15 and a two-hundred day moving average of $8.93. N-able, Inc. has a 1-year low of $6.07 and a 1-year high of $15.49.

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. N-able had a return on equity of 6.31% and a net margin of 8.08%. The business had revenue of $118.20 million during the quarter, compared to the consensus estimate of $115.65 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. N-able's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that N-able, Inc. will post 0.27 EPS for the current year.

N-able announced that its board has initiated a stock repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is 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.