Cable One (NYSE:CABO) Shares Up 3.3% – Time to Buy?

Cable One, Inc. (NYSE:CABO) shares were up 3.3% on Tuesday . The company traded as high as $253.44 and last traded at $250.27. Approximately 44,972 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 104,478 shares. The stock had previously closed at $242.25.

Analyst Ratings Changes

CABO has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their target price on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, KeyCorp cut their target price on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $457.20.

Cable One Price Performance

The stock has a market cap of $1.43 billion, a PE ratio of 5.88 and a beta of 0.89. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.84. The company’s 50 day moving average is $317.39 and its 200-day moving average is $348.49.

Cable One Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th will be given a $2.95 dividend. This represents a $11.80 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Tuesday, February 18th. Cable One’s payout ratio is currently 229.57%.

Institutional Investors Weigh In On Cable One

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Cable One in the 4th quarter worth about $2,137,000. Forum Financial Management LP acquired a new position in shares of Cable One in the 4th quarter valued at about $630,000. Burgundy Asset Management Ltd. boosted its holdings in shares of Cable One by 6.6% in the 4th quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company’s stock valued at $114,569,000 after buying an additional 19,545 shares during the period. Point72 Hong Kong Ltd boosted its holdings in shares of Cable One by 182.9% in the 4th quarter. Point72 Hong Kong Ltd now owns 3,941 shares of the company’s stock valued at $1,427,000 after buying an additional 2,548 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Cable One by 45.2% in the 4th quarter. ProShare Advisors LLC now owns 1,681 shares of the company’s stock valued at $609,000 after buying an additional 523 shares during the period. 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.