Cable One (NYSE:CABO) Stock Breaks Below 50 Day Moving Average – Should You Sell?

Cable One, Inc. (NYSE:CABO) shares crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $22.33 and traded as low as $11.33. Cable One shares last traded at $11.7060, with a volume of 832,257 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CABO shares. Wall Street Zen cut Cable One from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. BNP Paribas Exane cut their target price on Cable One from $40.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 29th. Zacks Research raised Cable One from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Williams Trading set a $86.00 target price on Cable One in a report on Friday, August 7th. Finally, Weiss Ratings upgraded Cable One from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cable One presently has a consensus rating of “Reduce” and a consensus price target of $80.00.

Cable One Stock Performance

The business’s fifty day moving average price is $20.94 and its 200-day moving average price is $46.29. The company has a debt-to-equity ratio of 9.27, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market cap of $48.26 million, a PE ratio of -0.05 and a beta of 0.52.

Institutional Investors Weigh In On Cable One

A number of large investors have recently added to or reduced their stakes in the stock. Private Management Group Inc. increased its position 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 purchasing an additional 167,590 shares during the last quarter. Man Group plc purchased a new position in shares of Cable One in the second quarter worth approximately $4,972,000. Pacer Advisors Inc. purchased a new position in shares of Cable One in the first quarter worth approximately $3,395,000. Susquehanna International Group LLP boosted its holdings 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. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cable One during the second quarter valued at approximately $1,419,000. Institutional investors own 89.92% of the company’s stock.

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.