Connor Clark & Lunn Investment Management Ltd. Raises Position in N-able, Inc. (NYSE:NABL)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of N-able, Inc. (NYSE:NABL) by 94.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 219,431 shares of the company’s stock after acquiring an additional 106,731 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in N-able were worth $2,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NABL. Scalar Gauge Management LLC bought a new stake in shares of N-able during the 2nd quarter worth approximately $10,650,000. Dimensional Fund Advisors LP grew its stake in N-able by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after purchasing an additional 371,013 shares in the last quarter. Sea Cliff Partners Management LP grew its position in shares of N-able by 11.8% during the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after buying an additional 226,532 shares in the last quarter. Janus Henderson Group PLC grew its holdings in N-able by 1,041.3% during the 1st quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock worth $2,866,000 after acquiring an additional 200,095 shares in the last quarter. Finally, 272 Capital LP purchased a new position in N-able during the 2nd quarter valued at about $2,988,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NABL has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price objective on shares of N-able in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 target price on shares of N-able in a research report on Thursday. Finally, BMO Capital Markets reduced their price target on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th.

Insider Buying and Selling

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

N-able Stock Up 0.9 %

N-able stock opened at $10.37 on Monday. The business has a fifty day moving average price of $12.17 and a 200-day moving average price of $13.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. N-able, Inc. has a 1-year low of $9.98 and a 1-year high of $15.48. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 51.85 and a beta of 0.47.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. N-able’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. Equities research analysts forecast that N-able, Inc. will post 0.28 EPS 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.