Burgundy Asset Management Ltd. Purchases 86,019 Shares of Cable One, Inc. (NYSE:CABO)

Burgundy Asset Management Ltd. raised its stake in shares of Cable One, Inc. (NYSE:CABO) by 27.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,403 shares of the company’s stock after purchasing an additional 86,019 shares during the quarter. Burgundy Asset Management Ltd. owned 0.07% of Cable One worth $106,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Summit Investment Advisors Inc. lifted its position in Cable One by 6.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 590 shares of the company’s stock valued at $214,000 after purchasing an additional 37 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of Cable One by 2.0% in the first quarter. SummerHaven Investment Management LLC now owns 2,392 shares of the company’s stock worth $636,000 after buying an additional 47 shares during the period. Spire Wealth Management increased its position in Cable One by 21.3% during the 1st quarter. Spire Wealth Management now owns 382 shares of the company’s stock valued at $102,000 after purchasing an additional 67 shares during the period. Federated Hermes Inc. increased its position in Cable One by 201.8% during the 4th quarter. Federated Hermes Inc. now owns 166 shares of the company’s stock valued at $60,000 after purchasing an additional 111 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in Cable One during the 1st quarter valued at $30,000. 89.92% of the stock is currently owned by institutional investors.

Insider Activity at Cable One

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

Cable One Price Performance

CABO opened at $154.98 on Friday. Cable One, Inc. has a 1 year low of $117.54 and a 1 year high of $436.99. The firm has a market capitalization of $872.54 million, a PE ratio of -1.75 and a beta of 0.79. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.37 and a quick ratio of 0.37. The business’s 50-day moving average is $135.52 and its two-hundred day moving average is $201.58.

Cable One (NYSE:CABO) last released its earnings results on Thursday, July 31st. The company reported $3.23 EPS for the quarter, missing analysts’ consensus estimates of $8.23 by ($5.00). Cable One had a positive return on equity of 8.40% and a negative net margin of 32.18%. The firm had revenue of $381.07 million for the quarter, compared to analyst estimates of $379.81 million. During the same period last year, the firm earned $10.29 EPS. Research analysts anticipate that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of Cable One in a research report on Friday, May 2nd. BNP Paribas Exane raised shares of Cable One from an “underperform” rating to a “neutral” rating and set a $125.00 price target for the company in a research report on Monday, June 16th. Raymond James Financial lowered shares of Cable One from an “outperform” rating to a “market perform” rating in a report on Friday, May 2nd. Wells Fargo & Company reduced their target price on shares of Cable One from $210.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Cable One from $325.00 to $222.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $279.25.

Cable One Profile

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.