Exchange Traded Concepts LLC Has $1.73 Million Holdings in N-able, Inc. (NYSE:NABL)

Exchange Traded Concepts LLC increased its holdings in shares of N-able, Inc. (NYSE:NABL) by 72.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 244,085 shares of the company’s stock after acquiring an additional 102,463 shares during the quarter. Exchange Traded Concepts LLC’s holdings in N-able were worth $1,731,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in N-able by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock worth $87,146,000 after buying an additional 161,725 shares during the period. Dimensional Fund Advisors LP raised its stake in N-able by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company’s stock worth $32,969,000 after buying an additional 179,305 shares during the period. Applied Fundamental Research LLC increased its holdings in N-able by 32.8% during the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company’s stock worth $10,116,000 after purchasing an additional 267,399 shares in the last quarter. Legal & General Group Plc increased its holdings in N-able by 9.3% during the 4th quarter. Legal & General Group Plc now owns 1,074,348 shares of the company’s stock worth $10,034,000 after purchasing an additional 91,613 shares in the last quarter. Finally, Crescent Park Management L.P. increased its holdings in N-able by 32.0% during the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after purchasing an additional 229,943 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

N-able Price Performance

NYSE:NABL opened at $8.13 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s 50-day simple moving average is $7.47 and its 200 day simple moving average is $8.47. The company has a market cap of $1.54 billion, a P/E ratio of 90.33 and a beta of 0.61. N-able, Inc. has a 52-week low of $6.07 and a 52-week high of $15.49.

N-able (NYSE:NABL) last released its earnings results on Thursday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $118.20 million for the quarter, compared to the consensus estimate of $115.65 million. N-able had a return on equity of 5.20% and a net margin of 3.47%. N-able’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 earnings per share. As a group, sell-side analysts forecast that N-able, Inc. will post 0.27 EPS for the current fiscal year.

N-able announced that its board has initiated a share repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

NABL has been the subject of a number of research reports. William Blair reiterated an “outperform” rating on shares of N-able in a report on Friday, March 14th. Royal Bank Of Canada lowered their target price on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of N-able in a report on Monday, May 5th. Scotiabank increased their target price on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a report on Friday, March 14th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

N-able 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.