Why N-Able Stock Is Firing Today
On March 28, N-Able, Inc (NYSE:NABL) disclosed that it would replace iStar Inc (NYSE:STAR) in the S&P SmallCap 600 effective before trading on Monday, April 3.
S&P SmallCap 600 constituent Safehold Inc (NYSE:SAFE) is acquiring iStar effective before the opening of trading on March 31.
Immediately before its acquisition by Safehold, iStar will distribute shares in Star Holdings (NASDAQ:STHOV).
Star Holdings is not eligible for the S&P SmallCap 600 following the spin-off transaction as it does not represent the small-cap market space.
In February, N-Able reported fourth-quarter revenue growth of 7% year-on-year to $95.8 million, beating the consensus of $93.6 million.
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