Mackenzie Financial Corp Makes New $512,000 Investment in N-able, Inc. (NYSE:NABL)

Mackenzie Financial Corp bought a new stake in shares of N-able, Inc. (NYSE:NABL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,607 shares of the company’s stock, valued at approximately $512,000.

Other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new stake in N-able in the 3rd quarter valued at about $73,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of N-able in the third quarter worth about $103,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of N-able by 19.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,637 shares of the company’s stock valued at $176,000 after purchasing an additional 2,260 shares during the period. MQS Management LLC purchased a new stake in shares of N-able during the 3rd quarter valued at approximately $178,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of N-able by 25.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,578 shares of the company’s stock valued at $180,000 after buying an additional 2,744 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Price Performance

NABL stock opened at $12.40 on Friday. The firm has a 50 day moving average of $12.89 and a 200-day moving average of $12.88. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $2.29 billion, a P/E ratio of 103.34 and a beta of 0.38. N-able, Inc. has a 12 month low of $11.50 and a 12 month high of $15.44.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $108.42 million during the quarter, compared to the consensus estimate of $106.86 million. N-able had a net margin of 5.55% and a return on equity of 4.20%. As a group, sell-side analysts predict that N-able, Inc. will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of N-able from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of N-able in a research report on Thursday, February 22nd.

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.