Private Management Group Inc. Boosts Stake in Cable One, Inc. $CABO

Private Management Group Inc. increased its stake in Cable One, Inc. (NYSE:CABO) by 55.1% during the second quarter, Holdings Channel.com reports. The firm owned 471,990 shares of the company’s stock after purchasing an additional 167,590 shares during the quarter. Private Management Group Inc. owned 0.08% of Cable One worth $25,067,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new stake in Cable One in the 1st quarter worth approximately $3,395,000. Lee Danner & Bass Inc. raised its stake in Cable One by 218.7% during the 1st quarter. Lee Danner & Bass Inc. now owns 21,350 shares of the company’s stock worth $1,947,000 after acquiring an additional 14,650 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cable One during the second quarter valued at approximately $1,419,000. Wallace Capital Management Inc. purchased a new position in Cable One during the second quarter valued at approximately $614,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Cable One in the second quarter worth approximately $113,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Cable One Trading Up 12.4%

CABO stock opened at $25.27 on Friday. The company has a debt-to-equity ratio of 9.27, a current ratio of 0.48 and a quick ratio of 0.48. Cable One, Inc. has a 1-year low of $21.98 and a 1-year high of $180.74. The business has a 50 day simple moving average of $38.55 and a two-hundred day simple moving average of $67.29. The company has a market capitalization of $143.28 million, a price-to-earnings ratio of -0.14 and a beta of 0.54.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CABO shares. TD Cowen reduced their price objective on shares of Cable One from $111.00 to $86.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Williams Trading set a $86.00 target price on shares of Cable One in a report on Friday, August 7th. Zacks Research lowered Cable One from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. BNP Paribas Exane raised Cable One from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $60.00 to $40.00 in a report on Tuesday, July 14th. Finally, Weiss Ratings upgraded Cable One from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Cable One presently has an average rating of “Reduce” and a consensus price target of $85.40.

Cable One Profile

Cable One, Inc (NYSE:CABO) is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One’s infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.