Cable One (NYSE:CABO) Reaches New 1-Year Low – Here’s What Happened

Cable One, Inc. (NYSE:CABO) reached a new 52-week low on Monday . The stock traded as low as $296.20 and last traded at $292.89, with a volume of 951 shares. The stock had previously closed at $304.01.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reduced their target price on Cable One from $480.00 to $470.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $554.40.

Cable One Stock Down 1.0 %

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.84. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 6.59 and a beta of 0.90. The business has a 50-day simple moving average of $360.86 and a two-hundred day simple moving average of $362.82.

Cable One Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th will be given a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a yield of 4.14%. Cable One’s payout ratio is currently 27.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CABO. Illinois Municipal Retirement Fund lifted its stake in shares of Cable One by 2.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 2,690 shares of the company’s stock valued at $974,000 after buying an additional 61 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Cable One by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 73,013 shares of the company’s stock worth $26,439,000 after purchasing an additional 2,627 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Cable One during the fourth quarter valued at approximately $229,000. Handelsbanken Fonder AB raised its stake in shares of Cable One by 20.1% in the fourth quarter. Handelsbanken Fonder AB now owns 1,193 shares of the company’s stock valued at $432,000 after purchasing an additional 200 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in Cable One by 15.5% in the fourth quarter. Global Retirement Partners LLC now owns 343 shares of the company’s stock worth $124,000 after purchasing an additional 46 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Cable One Company Profile

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.