Burgundy Asset Management Ltd. Raises Stock Holdings in Cable One, Inc. $CABO

Burgundy Asset Management Ltd. raised its stake in Cable One, Inc. (NYSE:CABO) by 18.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 474,730 shares of the company’s stock after buying an additional 72,327 shares during the period. Burgundy Asset Management Ltd. owned about 0.08% of Cable One worth $64,473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CABO. Charles Schwab Investment Management Inc. grew its holdings in shares of Cable One by 8.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 94,411 shares of the company’s stock valued at $25,092,000 after purchasing an additional 7,635 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cable One during the first quarter valued at about $2,152,000. Public Sector Pension Investment Board grew its stake in shares of Cable One by 294.0% during the first quarter. Public Sector Pension Investment Board now owns 45,164 shares of the company’s stock valued at $12,003,000 after buying an additional 33,702 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Cable One by 23.0% in the first quarter. Neuberger Berman Group LLC now owns 1,154 shares of the company’s stock worth $307,000 after buying an additional 216 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of Cable One in the 1st quarter valued at about $574,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Cable One Stock Performance

Shares of CABO stock opened at $127.16 on Friday. The company’s fifty day moving average price is $141.31 and its 200-day moving average price is $144.43. The stock has a market cap of $717.15 million, a PE ratio of -1.56 and a beta of 0.79. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 1.88. Cable One, Inc. has a 12 month low of $96.67 and a 12 month high of $428.14.

Cable One (NYSE:CABO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $9.25 by ($4.08). The company had revenue of $376.01 million during the quarter, compared to the consensus estimate of $378.96 million. Cable One had a positive return on equity of 7.96% and a negative net margin of 29.78%. On average, equities analysts expect that Cable One, Inc. will post 32.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Zacks Research cut Cable One from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. decreased their target price on shares of Cable One from $175.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Wells Fargo & Company lowered their price target on shares of Cable One from $120.00 to $107.00 and set an “underweight” rating for the company in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cable One in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Cable One currently has an average rating of “Reduce” and a consensus target price of $256.75.

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.