Graham Capital Management L.P. Takes $698,000 Position in N-able, Inc. (NYSE:NABL)

Graham Capital Management L.P. purchased a new position in N-able, Inc. (NYSE:NABL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,716 shares of the company’s stock, valued at approximately $698,000.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in N-able by 95.5% in the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after buying an additional 1,528 shares in the last quarter. Aquatic Capital Management LLC bought a new position in N-able in the fourth quarter worth about $29,000. Tower Research Capital LLC TRC raised its stake in N-able by 67.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock worth $30,000 after buying an additional 1,309 shares in the last quarter. KBC Group NV raised its stake in N-able by 104.7% in the fourth quarter. KBC Group NV now owns 5,490 shares of the company’s stock worth $51,000 after buying an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in N-able in the fourth quarter worth about $83,000. 96.35% of the stock is owned by institutional investors.

N-able Price Performance

Shares of NYSE NABL opened at $8.10 on Thursday. N-able, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $15.49. The company has a 50 day simple moving average of $7.10 and a two-hundred day simple moving average of $9.02. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 40.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01.

N-able (NYSE:NABL) 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 net margin of 8.08% and a return on equity of 6.31%. The firm had revenue of $118.20 million for the quarter, compared to analysts’ expectations of $115.65 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts expect that N-able, Inc. will post 0.27 EPS for the current fiscal year.

N-able announced that its board has approved a share buyback plan on Wednesday, March 12th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NABL shares. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target 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 note on Friday, March 14th. BMO Capital Markets reaffirmed a “market perform” rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. 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. Finally, Royal Bank of Canada decreased their target price on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, N-able currently has an average rating of “Moderate Buy” and a consensus target price 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.