Cable One, Inc. (NYSE:CABO) Sees Large Growth in Short Interest

Cable One, Inc. (NYSE:CABO) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 1,475,526 shares, a growth of 55.8% from the September 15th total of 947,150 shares. Based on an average trading volume of 463,029 shares, the days-to-cover ratio is currently 3.2 days. Currently, 26.2% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CABO shares. Zacks Research upgraded Cable One from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Wall Street Zen upgraded Cable One from a “sell” rating to a “hold” rating in a research note on Saturday. Williams Trading set a $86.00 target price on Cable One in a research note on Friday, August 7th. BNP Paribas Exane dropped their price target on Cable One from $40.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 29th. Finally, TD Cowen reduced their price target on Cable One from $111.00 to $86.00 and set a “hold” rating on the stock in a research note on Friday, August 7th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $80.00.

Cable One Stock Down 14.7%

NYSE CABO traded down $1.24 during trading hours on Friday, reaching $7.23. 718,785 shares of the company’s stock traded hands, compared to its average volume of 822,146. Cable One has a 52-week low of $7.19 and a 52-week high of $168.54. The firm has a market cap of $40.99 million, a PE ratio of -0.04 and a beta of 0.52. The firm has a 50-day simple moving average of $20.33 and a 200 day simple moving average of $46.02. The company has a debt-to-equity ratio of 9.27, a current ratio of 0.48 and a quick ratio of 0.48.

Hedge Funds Weigh In On Cable One

A number of institutional investors and hedge funds have recently made changes to their positions in CABO. Private Management Group Inc. boosted its position in shares of Cable One by 55.1% in the 2nd quarter. Private Management Group Inc. now owns 471,990 shares of the company’s stock worth $25,067,000 after purchasing an additional 167,590 shares in the last quarter. Man Group plc purchased a new stake in shares of Cable One in the 2nd quarter worth approximately $4,972,000. Pacer Advisors Inc. bought a new position in Cable One during the 1st quarter valued at approximately $3,395,000. Susquehanna International Group LLP increased its position in Cable One by 626.5% during the 2nd quarter. Susquehanna International Group LLP now owns 40,336 shares of the company’s stock valued at $2,142,000 after buying an additional 34,784 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Cable One during the 2nd quarter valued at approximately $1,419,000. Institutional investors own 89.92% of the company’s stock.

About Cable One

Cable One, Inc (NYSE: CABO) is a broadband communications provider serving residential and business customers in communities across the United States. The company operates primarily through the Sparklight brand and provides high-speed internet, video and voice services, along with related communications solutions.

For residential customers, Cable One offers broadband internet access, television programming and digital phone services. Its business operations provide internet connectivity, data transport, voice services, managed solutions and other telecommunications products to small and medium-sized businesses, enterprise customers and institutions.