Cable One (NYSE:CABO) Sets New 52-Week Low – Here’s What Happened

Cable One, Inc. (NYSE:CABO)’s share price hit a new 52-week low on Tuesday . The company traded as low as $121.37 and last traded at $127.42, with a volume of 255690 shares. The stock had previously closed at $128.20.

Analyst Ratings Changes

A number of research analysts have weighed in on CABO shares. KeyCorp reissued a “sector weight” rating on shares of Cable One in a research note on Friday, May 2nd. Wells Fargo & Company reduced their price target on Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. BNP Paribas raised Cable One from a “strong sell” rating to a “hold” rating in a research note on Monday, June 16th. JPMorgan Chase & Co. reduced their price target on Cable One from $325.00 to $222.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Finally, BNP Paribas Exane raised Cable One from an “underperform” rating to a “neutral” rating and set a $125.00 price target on the stock in a research note on Monday, June 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $309.25.

Cable One Stock Performance

The stock has a market cap of $717.37 million, a PE ratio of -50.76 and a beta of 0.83. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a 50-day simple moving average of $178.13 and a 200-day simple moving average of $260.29.

Cable One (NYSE:CABO) last issued its earnings results on Thursday, May 1st. The company reported $12.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.21 by $0.11. The business had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $386.61 million. Cable One had a positive return on equity of 9.38% and a negative net margin of 0.69%. Equities analysts predict that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Cable One

In other Cable One news, Director Wallace R. Weitz purchased 7,000 shares of Cable One stock in a transaction on Friday, June 13th. The shares were purchased at an average cost of $132.53 per share, with a total value of $927,710.00. Following the completion of the transaction, the director now directly owns 17,140 shares in the company, valued at approximately $2,271,564.20. This represents a 69.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary E. Meduski purchased 250 shares of Cable One stock in a transaction on Wednesday, June 11th. The shares were acquired at an average cost of $148.00 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now owns 3,599 shares of the company’s stock, valued at $532,652. This represents a 7.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,400 shares of company stock valued at $984,342 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in shares of Cable One by 4.9% during the fourth quarter. Principal Financial Group Inc. now owns 28,572 shares of the company’s stock worth $10,346,000 after purchasing an additional 1,332 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Cable One by 10.6% during the fourth quarter. Sanctuary Advisors LLC now owns 1,598 shares of the company’s stock worth $579,000 after purchasing an additional 153 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Cable One during the fourth quarter worth $203,000. Global Retirement Partners LLC lifted its position in shares of Cable One by 15.5% during the fourth quarter. Global Retirement Partners LLC now owns 343 shares of the company’s stock worth $124,000 after purchasing an additional 46 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Cable One by 20.1% during the fourth quarter. Handelsbanken Fonder AB now owns 1,193 shares of the company’s stock worth $432,000 after purchasing an additional 200 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

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.