Lafayette Investments Inc. Trims Position in Cable One, Inc. (NYSE:CABO)

Lafayette Investments Inc. decreased its holdings in Cable One, Inc. (NYSE:CABO) by 4.6% in the third quarter, HoldingsChannel.com reports. The fund owned 1,594 shares of the company’s stock after selling 76 shares during the period. Lafayette Investments Inc.’s holdings in Cable One were worth $558,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CABO. Jane Street Group LLC boosted its stake in shares of Cable One by 880.9% during the 1st quarter. Jane Street Group LLC now owns 14,870 shares of the company’s stock valued at $6,292,000 after purchasing an additional 13,354 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cable One by 11.0% during the 1st quarter. Vanguard Group Inc. now owns 490,178 shares of the company’s stock worth $207,409,000 after acquiring an additional 48,513 shares during the period. Nordea Investment Management AB bought a new position in shares of Cable One in the 1st quarter worth approximately $8,695,000. Private Management Group Inc. boosted its position in shares of Cable One by 70.7% during the second quarter. Private Management Group Inc. now owns 113,641 shares of the company’s stock valued at $40,229,000 after purchasing an additional 47,082 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Cable One during the first quarter valued at approximately $7,068,000. Institutional investors own 89.92% of the company’s stock.

Cable One Stock Performance

NYSE:CABO traded up $1.23 on Thursday, hitting $347.84. The stock had a trading volume of 7,326 shares, compared to its average volume of 103,892. The business’s 50-day simple moving average is $345.71 and its two-hundred day simple moving average is $364.98. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 7.94 and a beta of 0.84. Cable One, Inc. has a 52-week low of $311.28 and a 52-week high of $618.44. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.87.

Cable One (NYSE:CABO) last announced its earnings results on Thursday, August 1st. The company reported $8.16 EPS for the quarter, missing analysts’ consensus estimates of $10.36 by ($2.20). The business had revenue of $394.46 million for the quarter, compared to analysts’ expectations of $400.64 million. Cable One had a net margin of 15.31% and a return on equity of 12.04%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $10.43 earnings per share. As a group, research analysts predict that Cable One, Inc. will post 30.99 earnings per share for the current year.

Cable One Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a yield of 3.39%. The ex-dividend date was Tuesday, August 27th. Cable One’s dividend payout ratio is presently 27.02%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their price objective on Cable One from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Cable One has a consensus rating of “Hold” and an average price target of $533.33.

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.