Cable One (NYSE:CABO) Trading Up 4.5% – Here’s Why

Cable One, Inc. (NYSE:CABO)’s stock price rose 4.5% on Monday . The company traded as high as $286.61 and last traded at $290.21. Approximately 10,041 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 106,612 shares. The stock had previously closed at $277.65.

Wall Street Analysts Forecast Growth

CABO has been the subject of a number of analyst reports. KeyCorp cut their price objective on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating for the company in a report on Friday, February 28th.

Cable One Trading Down 2.9 %

The business’s fifty day moving average is $307.43 and its 200-day moving average is $345.60. The stock has a market capitalization of $1.56 billion, a PE ratio of 6.43 and a beta of 0.93. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.84.

Cable One Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were paid a dividend of $2.95 per share. The ex-dividend date was Tuesday, February 18th. This represents a $11.80 annualized dividend and a yield of 4.24%. Cable One’s dividend payout ratio is currently 229.57%.

Insiders Place Their Bets

In other Cable One news, Director Wallace R. Weitz acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $244.02 per share, for a total transaction of $244,020.00. Following the completion of the purchase, the director now directly owns 5,584 shares in the company, valued at $1,362,607.68. This represents a 21.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Cable One

Several institutional investors have recently bought and sold shares of CABO. AlphaQuest LLC purchased a new stake in Cable One during the fourth quarter worth approximately $49,000. Sound Income Strategies LLC purchased a new stake in Cable One during the fourth quarter worth approximately $50,000. KBC Group NV grew its stake in Cable One by 45.5% during the third quarter. KBC Group NV now owns 160 shares of the company’s stock worth $56,000 after buying an additional 50 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Cable One by 20.4% during the third quarter. Public Employees Retirement System of Ohio now owns 171 shares of the company’s stock worth $60,000 after purchasing an additional 29 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Cable One by 201.8% during the fourth quarter. Federated Hermes Inc. now owns 166 shares of the company’s stock worth $60,000 after purchasing an additional 111 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.