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 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 151,361 shares of the company’s stock, valued at approximately $1,414,000. N-able accounts for 1.3% of Monimus Capital Management LP’s investment portfolio, making the stock its 28th biggest position. Monimus Capital Management LP owned about 0.08% of N-able as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NABL. Applied Fundamental Research LLC boosted its position in shares of N-able by 438.6% in the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after purchasing an additional 664,198 shares in the last quarter. Barclays PLC increased its stake in shares of N-able by 398.2% in the 3rd quarter. Barclays PLC now owns 143,095 shares of the company’s stock valued at $1,869,000 after purchasing an additional 114,374 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new position in shares of N-able in the 4th quarter valued at about $1,006,000. Algert Global LLC increased its stake in shares of N-able by 73.6% in the 3rd quarter. Algert Global LLC now owns 161,100 shares of the company’s stock valued at $2,104,000 after purchasing an additional 68,320 shares in the last quarter. Finally, Edgestream Partners L.P. increased its stake in shares of N-able by 86.5% in the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company’s stock valued at $3,895,000 after purchasing an additional 193,387 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

N-able Trading 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 stock has a market capitalization of $1.41 billion, a PE ratio of 38.03 and a beta of 0.41. The business’s 50 day moving average price is $9.24 and its 200 day moving average price 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 approved a share repurchase program on Wednesday, March 12th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

NABL has been the subject of several research reports. BMO Capital Markets reiterated a “market perform” rating and set a $8.50 price objective (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of N-able in a research note on Friday. Scotiabank boosted their price objective on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of N-able in a report on Friday. 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 report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.38.

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.