N-able, Inc. (NYSE:NABL) is Crescent Park Management L.P.’s 10th Largest Position

Crescent Park Management L.P. lifted its stake in N-able, Inc. (NYSE:NABL) by 32.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 947,984 shares of the company’s stock after buying an additional 229,943 shares during the period. N-able makes up approximately 3.4% of Crescent Park Management L.P.’s holdings, making the stock its 10th largest holding. Crescent Park Management L.P.’s holdings in N-able were worth $8,854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. increased its stake in N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after purchasing an additional 1,528 shares during the period. KBC Group NV grew its holdings in shares of 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 purchasing an additional 2,808 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of N-able in the fourth quarter worth $83,000. Impact Partnership Wealth LLC bought a new stake in N-able during the 4th quarter valued at $104,000. Finally, Verition Fund Management LLC purchased a new stake in N-able during the 3rd quarter valued at $146,000. Institutional investors own 96.35% of the company’s stock.

N-able Stock Up 1.6 %

Shares of NYSE:NABL opened at $7.21 on Wednesday. The firm has a market capitalization of $1.36 billion, a P/E ratio of 36.03 and a beta of 0.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The stock has a 50 day moving average price of $8.80 and a 200-day moving average price of $10.27. N-able, Inc. has a 52-week low of $6.75 and a 52-week high of $15.49.

N-able announced that its board has authorized a share buyback program on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. BMO Capital Markets restated a “market perform” rating and issued a $8.50 price objective (down previously from $13.50) on shares of N-able in a research 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 research report on Friday, March 14th. Scotiabank increased their price objective on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a report on Friday, March 14th. Royal Bank of Canada reduced their target price on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of N-able in a research note on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and three have assigned 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 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.