Cable One (NYSE:CABO) Shares Up 3.3% – Time to Buy?

Cable One, Inc. (NYSE:CABO)’s share price shot up 3.3% during mid-day trading on Tuesday . The company traded as high as $253.44 and last traded at $250.27. 44,972 shares were traded during mid-day trading, a decline of 57% from the average session volume of 104,478 shares. The stock had previously closed at $242.25.

Analyst Ratings Changes

A number of brokerages have issued reports on CABO. KeyCorp dropped their target price on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company dropped their target price on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating for the company in a report on Monday. One equities research analyst has 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 MarketBeat, Cable One currently has an average rating of “Hold” and a consensus target price of $457.20.

Cable One Stock Performance

The stock’s 50-day moving average is $317.39 and its 200-day moving average is $348.49. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 5.88 and a beta of 0.89. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93.

Cable One Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 18th will be given a dividend of $2.95 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $11.80 dividend on an annualized basis and a yield of 4.64%. Cable One’s dividend payout ratio (DPR) is currently 229.57%.

Institutional Trading of Cable One

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Cable One in the 4th quarter valued at $28,129,000. Norges Bank acquired a new position in shares of Cable One in the 4th quarter valued at $11,993,000. Proficio Capital Partners LLC acquired a new position in shares of Cable One in the 4th quarter valued at $10,491,000. Burgundy Asset Management Ltd. boosted its holdings in shares of Cable One by 6.6% in the 4th quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company’s stock valued at $114,569,000 after purchasing an additional 19,545 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Cable One by 18.7% in the 4th quarter. Northern Trust Corp now owns 66,507 shares of the company’s stock valued at $24,084,000 after purchasing an additional 10,493 shares during the last quarter. 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.