MQS Management LLC Makes New $330,000 Investment in N-able, Inc. (NYSE:NABL)

MQS Management LLC acquired a new stake in N-able, Inc. (NYSE:NABL) during the third quarter, Holdings Channel.com reports. The firm acquired 25,264 shares of the company’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NABL. Mackenzie Financial Corp increased its stake in N-able by 2.2% in the second quarter. Mackenzie Financial Corp now owns 40,497 shares of the company’s stock valued at $617,000 after purchasing an additional 866 shares in the last quarter. Louisiana State Employees Retirement System increased its position in N-able by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company’s stock valued at $538,000 after buying an additional 900 shares in the last quarter. ProShare Advisors LLC raised its stake in N-able by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after buying an additional 971 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in N-able by 3.2% in the first quarter. Illinois Municipal Retirement Fund now owns 40,467 shares of the company’s stock worth $529,000 after acquiring an additional 1,242 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in N-able by 0.8% in the second quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock valued at $3,104,000 after acquiring an additional 1,668 shares during the period. Institutional investors own 96.35% of the company’s stock.

Insider Activity

In other news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at $4,208,972.96. This represents a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of N-able in a research report on Monday. BMO Capital Markets lowered their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th.

N-able Stock Performance

Shares of NABL opened at $10.81 on Friday. The firm has a market capitalization of $2.01 billion, a P/E ratio of 54.03 and a beta of 0.47. N-able, Inc. has a 52 week low of $10.77 and a 52 week high of $15.48. The stock has a 50 day moving average price of $12.43 and a two-hundred day moving average price of $13.15. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. N-able had a return on equity of 6.31% and a net margin of 8.08%. The business had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. N-able’s revenue was up 8.2% compared to the same quarter last year. Equities analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

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.