Cable One (NYSE:CABO) Shares Down 7.9% – What’s Next?

Cable One, Inc. (NYSE:CABO) shares fell 7.9% during mid-day trading on Thursday . The stock traded as low as $106.11 and last traded at $105.4380. 49,243 shares were traded during mid-day trading, a decline of 69% from the average session volume of 156,997 shares. The stock had previously closed at $114.43.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cable One in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price target on Cable One from $175.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Zacks Research raised shares of Cable One from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Wells Fargo & Company cut their price target on shares of Cable One from $120.00 to $107.00 and set an “underweight” rating on the stock in a report on Friday, November 7th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Cable One currently has a consensus rating of “Reduce” and an average target price of $256.75.

Cable One Stock Down 8.3%

The stock has a market cap of $591.64 million, a P/E ratio of -1.29 and a beta of 0.74. The firm’s fifty day moving average is $104.25 and its 200 day moving average is $132.73. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 1.88.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Baupost Group LLC MA bought a new position in Cable One during the third quarter worth about $12,068,000. Private Management Group Inc. raised its stake in shares of Cable One by 103.9% in the second quarter. Private Management Group Inc. now owns 311,131 shares of the company’s stock worth $42,255,000 after acquiring an additional 158,564 shares during the last quarter. Goldentree Asset Management LP bought a new position in Cable One in the 3rd quarter valued at $13,033,000. Burgundy Asset Management Ltd. boosted its holdings in Cable One by 18.0% in the second quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock valued at $64,473,000 after acquiring an additional 72,327 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Cable One during the 2nd quarter worth approximately $8,336,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Cable One Company Profile

Cable One, Inc (NYSE:CABO) is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One’s infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.