Cable One (NYSE:CABO) Trading Up 8.5% – Here’s What Happened

Cable One, Inc. (NYSE:CABO)’s share price shot up 8.5% during mid-day trading on Tuesday . The company traded as high as $106.39 and last traded at $106.7550. 35,116 shares changed hands during trading, a decline of 79% from the average session volume of 164,052 shares. The stock had previously closed at $98.37.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cable One in a report on Wednesday, January 21st. Zacks Research raised Cable One from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. lowered their price target on Cable One from $175.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Finally, Wells Fargo & Company reduced their price objective 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. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Cable One currently has a consensus rating of “Reduce” and a consensus target price of $256.75.

Cable One Price Performance

The stock has a 50 day moving average of $106.04 and a two-hundred day moving average of $133.98. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $612.05 million, a PE ratio of -1.34 and a beta of 0.75.

Institutional Trading of Cable One

Large investors have recently added to or reduced their stakes in the company. Baupost Group LLC MA purchased a new stake in Cable One in the 3rd quarter worth about $12,068,000. Burgundy Asset Management Ltd. lifted its position in shares of Cable One by 18.0% in the second quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock worth $64,473,000 after purchasing an additional 72,327 shares in the last quarter. Private Management Group Inc. boosted its holdings in shares of Cable One by 1.6% during the third quarter. Private Management Group Inc. now owns 316,245 shares of the company’s stock worth $55,991,000 after purchasing an additional 5,114 shares during the period. DAVENPORT & Co LLC increased its stake in Cable One by 11.8% in the 3rd quarter. DAVENPORT & Co LLC now owns 271,723 shares of the company’s stock valued at $48,109,000 after buying an additional 28,761 shares during the period. Finally, Marshall Wace LLP lifted its position in Cable One by 4.3% in the 3rd quarter. Marshall Wace LLP now owns 146,318 shares of the company’s stock worth $25,906,000 after buying an additional 6,000 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

About Cable One

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.