Cable One (NYSE:CABO) Stock Price Down 5.1% – What’s Next?

Cable One, Inc. (NYSE:CABO) shares dropped 5.1% during mid-day trading on Wednesday . The stock traded as low as $268.12 and last traded at $264.36. Approximately 4,694 shares traded hands during trading, a decline of 96% from the average daily volume of 107,499 shares. The stock had previously closed at $278.69.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their target price on Cable One from $340.00 to $240.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. 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, March 3rd. Finally, KeyCorp reduced their target price on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating on the stock in a report on Friday, February 28th.

Cable One Stock Down 14.1 %

The firm has a market cap of $1.33 billion, a PE ratio of 5.46 and a beta of 0.93. 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 firm has a 50 day moving average price of $301.39 and a 200-day moving average price of $343.84.

Cable One Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were issued a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Tuesday, February 18th. Cable One’s dividend payout ratio (DPR) is presently 229.57%.

Insider Activity

In other Cable One news, Director Wallace R. Weitz purchased 1,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were 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 approximately $1,362,607.68. This represents a 21.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its holdings in Cable One by 20.4% in the third quarter. Public Employees Retirement System of Ohio now owns 171 shares of the company’s stock valued at $60,000 after purchasing an additional 29 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Cable One by 6.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 590 shares of the company’s stock worth $214,000 after buying an additional 37 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Cable One by 3.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,445 shares of the company’s stock valued at $505,000 after buying an additional 43 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Cable One by 15.5% in the 4th quarter. Global Retirement Partners LLC now owns 343 shares of the company’s stock valued at $124,000 after buying an additional 46 shares during the last quarter. Finally, KBC Group NV raised its stake in Cable One by 45.5% during the 3rd quarter. KBC Group NV now owns 160 shares of the company’s stock worth $56,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other 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.