Cable One, Inc. (NYSE:CABO) Sees Significant Growth in Short Interest

Cable One, Inc. (NYSE:CABO) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 1,475,526 shares, an increase of 55.8% from the September 15th total of 947,150 shares. Based on an average daily volume of 463,029 shares, the short-interest ratio is presently 3.2 days. Currently, 26.2% of the company’s stock are short sold.

Analysts Set New Price Targets

CABO has been the subject of several research reports. Wall Street Zen upgraded Cable One from a “sell” rating to a “hold” rating in a report on Saturday. TD Cowen lowered their price target on Cable One from $111.00 to $86.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Zacks Research upgraded Cable One from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Williams Trading set a $86.00 price objective on shares of Cable One in a research report on Friday, August 7th. Finally, BNP Paribas Exane cut their price objective on shares of Cable One from $40.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 29th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $80.00.

Institutional Investors Weigh In On Cable One

A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in shares of Cable One in the second quarter valued at about $30,000. Integrated Wealth Concepts LLC acquired a new position in shares of Cable One during the 2nd quarter worth about $34,000. Public Employees Retirement System of Ohio acquired a new position in shares of Cable One during the 2nd quarter worth about $52,000. Fifth Third Bancorp lifted its position in shares of Cable One by 3,100.0% during the 1st quarter. Fifth Third Bancorp now owns 1,120 shares of the company’s stock worth $102,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Cable One during the 2nd quarter valued at approximately $113,000. 89.92% of the stock is currently owned by institutional investors.

Cable One Stock Performance

NYSE:CABO opened at $7.23 on Friday. Cable One has a 1 year low of $7.19 and a 1 year high of $168.54. The firm’s fifty day simple moving average is $20.33 and its 200 day simple moving average is $46.02. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 9.27. The firm has a market capitalization of $41.02 million, a PE ratio of -0.04 and a beta of 0.52.

About Cable One

Cable One, Inc (NYSE: CABO) is a broadband communications provider serving residential and business customers in communities across the United States. The company operates primarily through the Sparklight brand and provides high-speed internet, video and voice services, along with related communications solutions.

For residential customers, Cable One offers broadband internet access, television programming and digital phone services. Its business operations provide internet connectivity, data transport, voice services, managed solutions and other telecommunications products to small and medium-sized businesses, enterprise customers and institutions.