Cable One (NYSE:CABO) Sets New 12-Month Low – Here’s Why

Cable One, Inc. (NYSE:CABO) hit a new 52-week low on Thursday . The company traded as low as $233.82 and last traded at $236.30, with a volume of 123618 shares. The stock had previously closed at $274.73.

Analysts Set New Price Targets

CABO has been the subject of several recent research reports. KeyCorp reduced their price target on Cable One from $825.00 to $650.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company reduced their target price on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd.

Cable One Stock Performance

The stock has a market cap of $1.33 billion, a P/E 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 stock has a 50 day simple moving average of $303.98 and a 200 day simple moving average of $344.59.

Cable One Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were given a $2.95 dividend. This represents a $11.80 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend was Tuesday, February 18th. Cable One’s payout ratio is currently 229.57%.

Insider Buying and Selling

In other Cable One news, Director Wallace R. Weitz purchased 1,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $244.02 per share, with a total value of $244,020.00. Following the acquisition, the director now owns 5,584 shares of the company’s stock, valued at approximately $1,362,607.68. This represents a 21.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of Cable One

Hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC acquired a new stake in shares of Cable One during the 4th quarter valued at $49,000. Sound Income Strategies LLC bought a new position in Cable One in the fourth quarter valued at about $50,000. KBC Group NV boosted its stake in shares of Cable One by 45.5% during the third quarter. KBC Group NV now owns 160 shares of the company’s stock valued at $56,000 after purchasing an additional 50 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Cable One by 20.4% during the third quarter. Public Employees Retirement System of Ohio now owns 171 shares of the company’s stock worth $60,000 after purchasing an additional 29 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Cable One by 201.8% in the fourth quarter. Federated Hermes Inc. now owns 166 shares of the company’s stock valued at $60,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds 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.