Monimus Capital Management LP Invests $1.41 Million in N-able, Inc. (NYSE:NABL)

Monimus Capital Management LP acquired a new position in shares of N-able, Inc. (NYSE:NABL) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 151,361 shares of the company’s stock, valued at approximately $1,414,000. N-able comprises 1.3% of Monimus Capital Management LP’s portfolio, making the stock its 28th largest position.

Other large investors have also modified their holdings of the company. Entropy Technologies LP acquired a new stake in shares of N-able during the 3rd quarter worth about $149,000. Aigen Investment Management LP raised its position 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 worth $182,000 after acquiring an additional 3,863 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of N-able by 14.4% during the 3rd quarter. Victory Capital Management Inc. now owns 55,497 shares of the company’s stock worth $725,000 after acquiring an additional 7,000 shares in the last quarter. MQS Management LLC acquired a new position in N-able during the third quarter worth approximately $330,000. Finally, Quest Partners LLC increased its position in N-able by 91.4% during the third quarter. Quest Partners LLC now owns 67,217 shares of the company’s stock worth $878,000 after buying an additional 32,094 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Scotiabank lifted their price target on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of N-able in a research report on Friday. 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. BMO Capital Markets reiterated a “market perform” rating and issued a $8.50 target price (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada lowered 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Stock Down 3.0 %

NABL opened at $7.61 on Friday. N-able, Inc. has a one year low of $6.75 and a one year high of $15.49. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 38.03 and a beta of 0.41. The business’s fifty day moving average is $9.24 and its two-hundred day moving average is $10.74. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01.

N-able declared that its board has authorized a share buyback program on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.