State of Wisconsin Investment Board cut its stake in shares of Cable One, Inc. (NYSE:CABO) by 63.2% during the first quarter, Holdings Channel reports. The firm owned 944 shares of the company’s stock after selling 1,619 shares during the period. State of Wisconsin Investment Board’s holdings in Cable One were worth $589,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in CABO. Russell Investments Group Ltd. bought a new stake in Cable One during the fourth quarter valued at $1,881,000. FMR LLC boosted its stake in Cable One by 0.5% in the fourth quarter. FMR LLC now owns 4,098 shares of the company’s stock valued at $2,548,000 after buying an additional 20 shares during the period. First Manhattan Co. boosted its stake in Cable One by 17.1% in the first quarter. First Manhattan Co. now owns 2,318 shares of the company’s stock valued at $1,353,000 after buying an additional 339 shares during the period. William Blair Investment Management LLC boosted its stake in Cable One by 1.3% in the fourth quarter. William Blair Investment Management LLC now owns 71,180 shares of the company’s stock valued at $44,255,000 after buying an additional 883 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Cable One by 231.0% in the fourth quarter. Macquarie Group Ltd. now owns 63,698 shares of the company’s stock valued at $39,603,000 after buying an additional 44,453 shares during the period. Institutional investors and hedge funds own 73.95% of the company’s stock.
Shares of Cable One, Inc. (NYSE:CABO) opened at 722.53 on Friday. Cable One, Inc. has a 12-month low of $471.24 and a 12-month high of $734.35. The company has a market cap of $4.14 billion, a PE ratio of 39.52 and a beta of 0.28. The company has a 50-day moving average of $696.29 and a 200 day moving average of $644.54.
Cable One (NYSE:CABO) last posted its quarterly earnings results on Thursday, May 4th. The company reported $5.80 EPS for the quarter, beating the consensus estimate of $5.62 by $0.18. Cable One had a net margin of 12.75% and a return on equity of 23.30%. The business had revenue of $207.43 million for the quarter, compared to analysts’ expectations of $205.97 million. During the same period in the previous year, the company posted $4.65 EPS. Cable One’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Cable One, Inc. will post $21.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Tuesday, May 16th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, May 12th. Cable One’s dividend payout ratio is currently 32.82%.
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Several analysts recently weighed in on CABO shares. SunTrust Banks, Inc. started coverage on shares of Cable One in a report on Tuesday, April 18th. They issued a “buy” rating and a $715.00 price target on the stock. Zacks Investment Research upgraded shares of Cable One from a “hold” rating to a “buy” rating and set a $715.00 price target on the stock in a report on Monday, March 13th. Raymond James Financial, Inc. started coverage on shares of Cable One in a report on Thursday, June 8th. They issued an “outperform” rating and a $785.00 price target on the stock. Finally, TheStreet upgraded shares of Cable One from a “c” rating to a “b-” rating in a report on Monday, June 12th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $655.75.
In other news, major shareholder Donald Graham sold 4,100 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $716.05, for a total transaction of $2,935,805.00. Following the transaction, the insider now directly owns 246,985 shares in the company, valued at approximately $176,853,609.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 7,100 shares of company stock worth $5,098,037. 1.30% of the stock is currently owned by corporate insiders.
Cable One Company Profile
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
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