New York State Common Retirement Fund Reduces Stake in Cable One, Inc. (CABO)

New York State Common Retirement Fund lowered its position in shares of Cable One, Inc. (NYSE:CABO) by 8.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,600 shares of the company’s stock after selling 1,011 shares during the quarter. New York State Common Retirement Fund owned about 0.19% of Cable One worth $7,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Cable One by 13.2% during the second quarter. Bank of New York Mellon Corp now owns 72,838 shares of the company’s stock worth $51,780,000 after buying an additional 8,521 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Cable One during the second quarter worth $1,905,000. Prudential Financial Inc. lifted its holdings in shares of Cable One by 20.7% during the second quarter. Prudential Financial Inc. now owns 13,134 shares of the company’s stock worth $9,337,000 after buying an additional 2,249 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Cable One by 16.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 18,314 shares of the company’s stock worth $13,020,000 after buying an additional 2,523 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Cable One by 70.1% during the second quarter. BNP Paribas Arbitrage SA now owns 1,886 shares of the company’s stock worth $1,341,000 after buying an additional 777 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Cable One, Inc. (NYSE:CABO) opened at 758.31 on Thursday. The company has a 50 day moving average price of $732.13 and a 200-day moving average price of $732.13. Cable One, Inc. has a 12 month low of $559.83 and a 12 month high of $759.80. The company has a market cap of $4.34 billion, a PE ratio of 40.72 and a beta of 0.27.

Cable One (NYSE:CABO) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.10 by ($0.13). Cable One had a net margin of 12.44% and a return on equity of 22.83%. The firm had revenue of $241.00 million for the quarter, compared to analysts’ expectations of $247.02 million. During the same period in the prior year, the company earned $4.62 EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Equities analysts predict that Cable One, Inc. will post $20.60 earnings per share for the current fiscal year.

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In related news, COO Michael E. Bowker sold 1,244 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $740.59, for a total transaction of $921,293.96. Following the sale, the chief operating officer now owns 7,104 shares of the company’s stock, valued at approximately $5,261,151.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Donald Graham acquired 24,561 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average cost of $742.52 per share, for a total transaction of $18,237,033.72. Following the acquisition, the insider now directly owns 271,546 shares in the company, valued at approximately $201,628,335.92. The disclosure for this purchase can be found here. Insiders have sold a total of 2,561 shares of company stock worth $1,893,119 in the last ninety days. Insiders own 1.30% of the company’s stock.

A number of equities research analysts have recently weighed in on CABO shares. Zacks Investment Research downgraded Cable One from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 4th. Raymond James Financial, Inc. lifted their target price on Cable One from $785.00 to $815.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, BidaskClub downgraded Cable One from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Cable One presently has a consensus rating of “Hold” and a consensus target price of $693.75.

About Cable One

Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.

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Institutional Ownership by Quarter for Cable One (NYSE:CABO)

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