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

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of N-able, Inc. (NYSE:NABL) by 94.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,431 shares of the company’s stock after buying an additional 106,731 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of N-able worth $2,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of N-able in the 2nd quarter worth $30,000. GAMMA Investing LLC raised its position in N-able by 644.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after buying an additional 3,163 shares during the last quarter. Entropy Technologies LP bought a new position in N-able during the 3rd quarter valued at about $149,000. Aigen Investment Management LP boosted its holdings in shares of N-able by 38.4% during the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock valued at $182,000 after acquiring an additional 3,863 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of N-able by 7.4% in the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after acquiring an additional 971 shares during the period. Institutional investors own 96.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of N-able in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of N-able in a report on Thursday. Finally, BMO Capital Markets lowered their target price on 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 Trading Up 0.9 %

Shares of N-able stock opened at $10.37 on Monday. N-able, Inc. has a 1-year low of $9.98 and a 1-year high of $15.48. The company’s fifty day simple moving average is $12.17 and its 200-day simple moving average is $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. The stock has a market capitalization of $1.93 billion, a PE ratio of 51.85 and a beta of 0.47.

N-able (NYSE:NABL) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. N-able’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, equities analysts anticipate that N-able, Inc. will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 322,774 shares in the company, valued at approximately $4,208,972.96. This represents a 4.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.43% of the stock is owned by company insiders.

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.