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

Connor Clark & Lunn Investment Management Ltd. grew its holdings in N-able, Inc. (NYSE:NABL - Free Report) by 94.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Several other large investors have also made changes to their positions in the business. Mackenzie Financial Corp raised its holdings in shares of N-able by 2.2% during the second quarter. Mackenzie Financial Corp now owns 40,497 shares of the company's stock valued at $617,000 after acquiring an additional 866 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in N-able by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company's stock worth $538,000 after acquiring an additional 900 shares during the last quarter. ProShare Advisors LLC grew its stake in N-able by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company's stock valued at $184,000 after acquiring an additional 971 shares in the last quarter. Rhumbline Advisers raised its holdings in N-able by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 203,826 shares of the company's stock valued at $3,104,000 after acquiring an additional 1,668 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in N-able in the 2nd quarter worth approximately $30,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BMO Capital Markets lowered their price objective on N-able from $14.00 to $13.50 and set a "market perform" rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada reissued an "outperform" rating and set a $15.00 price target on shares of N-able in a research report on Thursday. Finally, Needham & Company LLC restated a "buy" rating and set a $16.50 price objective on shares of N-able in a research report on Friday.

N-able Trading Down 0.6 %

N-able stock traded down $0.06 during mid-day trading on Monday, hitting $10.31. The company's stock had a trading volume of 573,312 shares, compared to its average volume of 528,299. N-able, Inc. has a 1 year low of $9.98 and a 1 year high of $15.48. The stock's fifty day moving average is $12.12 and its two-hundred day moving average is $13.05. The firm has a market capitalization of $1.92 billion, a PE ratio of 51.55 and a beta of 0.47. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. The firm had revenue of $116.40 million during 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%. The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. On average, analysts anticipate that N-able, Inc. will post 0.28 EPS for the current year.

Insider Activity at N-able

In related news, EVP Peter C. Anastos sold 16,000 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the sale, the executive vice president now directly owns 322,774 shares of the company's stock, valued at $4,208,972.96. This represents a 4.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.43% of the stock is owned by insiders.

About N-able

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.