Cable One, Inc. (NYSE:CABO) Stock Short Interest Rises 55.8%

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Management Group Inc. raised its stake in shares of Cable One by 55.1% during the 2nd quarter. Private Management Group Inc. now owns 471,990 shares of the company’s stock valued at $25,067,000 after buying an additional 167,590 shares during the last quarter. Man Group plc acquired a new position in shares of Cable One in the 2nd quarter valued at about $4,972,000. Renaissance Technologies LLC lifted its holdings in shares of Cable One by 18.5% in the 1st quarter. Renaissance Technologies LLC now owns 53,900 shares of the company’s stock valued at $4,916,000 after buying an additional 8,400 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Cable One in the first quarter worth about $3,395,000. Finally, Susquehanna International Group LLP boosted its stake in shares of Cable One by 626.5% in the second quarter. Susquehanna International Group LLP now owns 40,336 shares of the company’s stock worth $2,142,000 after buying an additional 34,784 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Zacks Research raised Cable One from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. BNP Paribas Exane cut their price objective on Cable One from $40.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, September 29th. Weiss Ratings raised Cable One from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Wall Street Zen cut Cable One from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Finally, TD Cowen decreased their target price on Cable One from $111.00 to $86.00 and set a “hold” rating for the company in a report on Friday, August 7th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $80.00.

Cable One Stock Performance

Shares of CABO stock traded down $0.84 during trading hours on Friday, hitting $7.62. The company’s stock had a trading volume of 382,996 shares, compared to its average volume of 271,322. The company has a 50 day moving average of $20.94 and a 200 day moving average of $46.29. The stock has a market cap of $43.23 million, a PE ratio of -0.04 and a beta of 0.52. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 9.27. Cable One has a 12-month low of $7.41 and a 12-month high of $168.54.

Cable One Company Profile

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.