Mackenzie Financial Corp Increases Stock Position in N-able, Inc. (NYSE:NABL)

Mackenzie Financial Corp grew its stake in shares of N-able, Inc. (NYSE:NABL) by 10.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 51,351 shares of the company’s stock after acquiring an additional 4,770 shares during the period. Mackenzie Financial Corp’s holdings in N-able were worth $364,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC raised its stake in N-able by 332.7% during the 1st quarter. GAMMA Investing LLC now owns 10,722 shares of the company’s stock valued at $76,000 after purchasing an additional 8,244 shares during the period. BNP Paribas Financial Markets purchased a new position in N-able during the 4th quarter valued at $525,000. Topline Capital Management LLC purchased a new stake in shares of N-able in the 4th quarter worth $966,000. Two Sigma Investments LP raised its position in shares of N-able by 46.9% in the 4th quarter. Two Sigma Investments LP now owns 159,612 shares of the company’s stock worth $1,491,000 after acquiring an additional 50,926 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of N-able by 48.6% in the 4th quarter. Millennium Management LLC now owns 791,871 shares of the company’s stock worth $7,396,000 after acquiring an additional 258,979 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of N-able in a research report on Monday, May 5th. Wall Street Zen upgraded N-able from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Scotiabank increased their price target on N-able from $8.30 to $8.75 and gave the stock a “sector perform” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.31.

N-able Price Performance

NYSE:NABL opened at $7.50 on Friday. The stock has a 50 day moving average price of $8.02 and a 200 day moving average price of $8.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.20 and a current ratio of 1.24. The stock has a market cap of $1.42 billion, a PE ratio of 374.94 and a beta of 0.62. N-able, Inc. has a one year low of $6.07 and a one year high of $13.57.

N-able (NYSE:NABL) last posted its earnings results on Thursday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. N-able had a return on equity of 4.13% and a net margin of 0.59%. The company had revenue of $131.25 million during the quarter, compared to analysts’ expectations of $125.87 million. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts expect that N-able, Inc. will post 0.27 EPS for the current fiscal year.

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.