Cable One (NYSE:CABO) Sets New 1-Year Low – Here’s What Happened

Cable One, Inc. (NYSE:CABO)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $162.49 and last traded at $170.55, with a volume of 195732 shares traded. The stock had previously closed at $261.99.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. KeyCorp reiterated a “sector weight” rating on shares of Cable One in a report on Friday. Raymond James cut Cable One from an “outperform” rating to a “market perform” rating in a report on Friday. JPMorgan Chase & Co. cut their price target on Cable One from $420.00 to $325.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating for the company in a research note on Friday, February 28th.

Cable One Stock Performance

The business has a 50-day moving average of $258.05 and a two-hundred day moving average of $320.78. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $855.40 million, a P/E ratio of 3.52 and a beta of 1.00.

Cable One (NYSE:CABO) last released its quarterly earnings results on Thursday, May 1st. The company reported $12.32 EPS for the quarter, beating the consensus estimate of $12.21 by $0.11. Cable One had a net margin of 15.86% and a return on equity of 10.98%. The business had revenue of $380.60 million during the quarter, compared to analyst estimates of $386.61 million. On average, sell-side analysts predict that Cable One, Inc. will post 32.08 EPS for the current fiscal year.

Cable One Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th were given a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a dividend yield of 7.76%. The ex-dividend date was Tuesday, February 18th. Cable One’s payout ratio is presently -470.12%.

Insider Transactions at Cable One

In related news, Director Wallace R. Weitz bought 1,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $244.02 per share, for a total transaction of $244,020.00. Following the purchase, the director now directly owns 5,584 shares of the company’s stock, valued at approximately $1,362,607.68. This trade represents a 21.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kingsview Wealth Management LLC increased its position in shares of Cable One by 19.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 28,349 shares of the company’s stock valued at $7,534,000 after acquiring an additional 4,689 shares during the period. Mraz Amerine & Associates Inc. increased its holdings in shares of Cable One by 11.3% in the first quarter. Mraz Amerine & Associates Inc. now owns 6,254 shares of the company’s stock valued at $1,675,000 after purchasing an additional 635 shares during the period. Brown Advisory Inc. raised its stake in shares of Cable One by 47.9% in the first quarter. Brown Advisory Inc. now owns 131,576 shares of the company’s stock worth $34,969,000 after purchasing an additional 42,606 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Cable One by 22.5% during the first quarter. Crossmark Global Holdings Inc. now owns 1,243 shares of the company’s stock worth $330,000 after purchasing an additional 228 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Cable One by 2.6% in the first quarter. Principal Financial Group Inc. now owns 29,302 shares of the company’s stock valued at $7,788,000 after buying an additional 730 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

About Cable One

Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.