Cable One (NYSE:CABO) Trading Up 4.5% – Here’s What Happened

Cable One, Inc. (NYSE:CABO)’s stock price was up 4.5% on Monday . The company traded as high as $286.61 and last traded at $290.21. Approximately 10,041 shares changed hands during trading, a decline of 91% from the average daily volume of 106,612 shares. The stock had previously closed at $277.65.

Analyst Ratings Changes

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

Cable One Price Performance

The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50-day moving average is $307.43 and its 200 day moving average is $345.60. The stock has a market capitalization of $1.56 billion, a PE ratio of 6.43 and a beta of 0.93.

Cable One Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were given a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Cable One’s payout ratio is currently 229.57%.

Insiders Place Their Bets

In other news, Director Wallace R. Weitz bought 1,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $244.02 per share, with a total value of $244,020.00. Following the completion of the acquisition, the director now directly owns 5,584 shares in the company, valued at approximately $1,362,607.68. The trade was a 21.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Cable One

Several hedge funds and other institutional investors have recently made changes to their positions in CABO. Burgundy Asset Management Ltd. raised its position in Cable One by 6.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company’s stock worth $114,569,000 after acquiring an additional 19,545 shares during the last quarter. Rothschild & Co Wealth Management UK Ltd raised its position in shares of Cable One by 1.5% in the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 294,400 shares of the company’s stock valued at $106,608,000 after buying an additional 4,352 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cable One by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 166,756 shares of the company’s stock valued at $60,386,000 after buying an additional 10,211 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cable One by 1.6% in the third quarter. Geode Capital Management LLC now owns 118,170 shares of the company’s stock valued at $41,342,000 after buying an additional 1,839 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cable One by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 86,776 shares of the company’s stock valued at $31,423,000 after buying an additional 7,055 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.