Traders Buy Cable One (CABO) on Weakness

Investors bought shares of Cable One Inc (NYSE:CABO) on weakness during trading on Friday. $31.96 million flowed into the stock on the tick-up and $11.42 million flowed out of the stock on the tick-down, for a money net flow of $20.54 million into the stock. Of all companies tracked, Cable One had the 15th highest net in-flow for the day. Cable One traded down ($8.61) for the day and closed at $788.04

CABO has been the subject of several analyst reports. ValuEngine lowered shares of Cable One from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. Zacks Investment Research lowered shares of Cable One from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp initiated coverage on shares of Cable One in a research note on Wednesday, May 16th. They issued an “equal weight” rating for the company. Finally, B. Riley set a $860.00 price objective on shares of Cable One and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Cable One has an average rating of “Hold” and a consensus price target of $821.00.

The company has a debt-to-equity ratio of 1.61, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market cap of $4.42 billion, a P/E ratio of 36.97, a PEG ratio of 8.34 and a beta of 0.20.

Cable One (NYSE:CABO) last issued its quarterly earnings results on Thursday, August 9th. The company reported $7.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $7.97 by ($0.32). Cable One had a return on equity of 22.84% and a net margin of 24.78%. The company had revenue of $268.40 million for the quarter, compared to analysts’ expectations of $265.76 million. During the same quarter in the previous year, the business earned $4.97 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. analysts expect that Cable One Inc will post 30.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Tuesday, August 21st will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, August 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.02%. This is a positive change from Cable One’s previous quarterly dividend of $1.75. Cable One’s dividend payout ratio (DPR) is presently 32.39%.

In other news, SVP Charles B. Mcdonald sold 327 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $660.03, for a total transaction of $215,829.81. Following the completion of the sale, the senior vice president now owns 2,023 shares in the company, valued at approximately $1,335,240.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Donald Graham sold 3,022 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $658.10, for a total transaction of $1,988,778.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,444 shares of company stock valued at $8,190,210. 1.10% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cable One by 44.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 226 shares of the company’s stock worth $166,000 after purchasing an additional 70 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in shares of Cable One during the 2nd quarter worth approximately $202,000. Palisade Asset Management LLC purchased a new stake in shares of Cable One during the 2nd quarter worth approximately $205,000. Levin Capital Strategies L.P. purchased a new stake in shares of Cable One during the 2nd quarter worth approximately $220,000. Finally, Vident Investment Advisory LLC purchased a new stake in shares of Cable One during the 2nd quarter worth approximately $226,000. Institutional investors own 76.77% of the company’s stock.

About Cable One (NYSE:CABO)

Cable One, Inc owns and operates cable systems that provide data, video, and voice services in the United States. The company offers data services, including home.cableone.net, an Internet portal that provides various email addresses; and WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home.

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