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

Cable One, Inc. (NYSE:CABO) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 499,000 shares, a growth of 7.4% from the March 15th total of 464,500 shares. Based on an average daily trading volume, of 88,500 shares, the days-to-cover ratio is presently 5.6 days. Approximately 11.4% of the shares of the stock are sold short.

Insider Activity at Cable One

In related news, insider Christopher D. Boone sold 204 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $460.00, for a total value of $93,840.00. Following the sale, the insider now directly owns 1,854 shares of the company’s stock, valued at $852,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cable One

A number of hedge funds have recently added to or reduced their stakes in CABO. HighTower Advisors LLC bought a new stake in shares of Cable One during the first quarter valued at approximately $214,000. Raymond James Trust N.A. increased its holdings in shares of Cable One by 6.3% during the first quarter. Raymond James Trust N.A. now owns 187 shares of the company’s stock valued at $274,000 after acquiring an additional 11 shares in the last quarter. Aviva PLC increased its holdings in shares of Cable One by 1,312.1% during the first quarter. Aviva PLC now owns 4,081 shares of the company’s stock valued at $5,976,000 after acquiring an additional 3,792 shares in the last quarter. Bridgewater Associates LP bought a new stake in shares of Cable One during the first quarter valued at approximately $489,000. Finally, Federated Hermes Inc. increased its holdings in shares of Cable One by 19.4% during the first quarter. Federated Hermes Inc. now owns 899 shares of the company’s stock valued at $1,316,000 after acquiring an additional 146 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Moffett Nathanson raised Cable One from a “neutral” rating to a “buy” rating and set a $615.00 price objective on the stock in a research note on Tuesday, March 5th. Wells Fargo & Company cut their price target on Cable One from $460.00 to $400.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Finally, KeyCorp cut their price target on Cable One from $900.00 to $881.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $627.80.

Cable One Trading Up 1.7 %

Shares of Cable One stock traded up $6.60 during midday trading on Wednesday, reaching $393.60. The company had a trading volume of 74,257 shares, compared to its average volume of 90,179. The stock has a fifty day moving average price of $443.11 and a 200 day moving average price of $520.32. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market cap of $2.21 billion, a PE ratio of 8.66 and a beta of 0.80. Cable One has a fifty-two week low of $373.37 and a fifty-two week high of $768.75.

Cable One (NYSE:CABO) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $10.66 EPS for the quarter, missing analysts’ consensus estimates of $12.86 by ($2.20). The company had revenue of $411.82 million during the quarter, compared to analyst estimates of $417.66 million. Cable One had a return on equity of 13.65% and a net margin of 15.94%. On average, equities analysts anticipate that Cable One will post 43.36 earnings per share for the current year.

Cable One Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were paid a $2.95 dividend. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Friday, February 16th. Cable One’s dividend payout ratio is currently 26.12%.

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.