Cornerstone Advisory LLP Maintains Stake in Cable One, Inc. (CABO)
Cornerstone Advisory LLP held its position in Cable One, Inc. (NYSE:CABO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,000 shares of the company’s stock at the end of the second quarter. Cable One makes up about 2.1% of Cornerstone Advisory LLP’s holdings, making the stock its 11th largest position. Cornerstone Advisory LLP owned approximately 0.16% of Cable One worth $6,398,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teachers Advisors LLC increased its position in Cable One by 7.1% in the fourth quarter. Teachers Advisors LLC now owns 4,374 shares of the company’s stock worth $2,719,000 after buying an additional 289 shares in the last quarter. Capstone Asset Management Co. increased its position in Cable One by 3.1% in the first quarter. Capstone Asset Management Co. now owns 573 shares of the company’s stock worth $358,000 after buying an additional 17 shares in the last quarter. Nationwide Fund Advisors increased its position in Cable One by 0.7% in the first quarter. Nationwide Fund Advisors now owns 7,831 shares of the company’s stock worth $4,890,000 after buying an additional 51 shares in the last quarter. First Manhattan Co. increased its position in Cable One by 17.1% in the first quarter. First Manhattan Co. now owns 2,318 shares of the company’s stock worth $1,353,000 after buying an additional 339 shares in the last quarter. Finally, First Quadrant L P CA increased its position in Cable One by 56,800.0% in the first quarter. First Quadrant L P CA now owns 4,552 shares of the company’s stock worth $2,843,000 after buying an additional 4,544 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.
Cable One, Inc. (NYSE:CABO) traded up 0.62% during mid-day trading on Wednesday, hitting $744.00. The stock had a trading volume of 1,073 shares. The stock has a market cap of $4.26 billion, a PE ratio of 39.95 and a beta of 0.30. Cable One, Inc. has a 1-year low of $527.75 and a 1-year high of $788.00. The firm’s 50-day moving average price is $742.67 and its 200-day moving average price is $687.73.
Cable One (NYSE:CABO) last posted its earnings results on Tuesday, August 8th. The company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.10 by $0.13. Cable One had a return on equity of 22.83% and a net margin of 12.44%. The company had revenue of $241 million during the quarter, compared to the consensus estimate of $247.02 million. During the same period last year, the firm posted $4.62 EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities analysts expect that Cable One, Inc. will post $20.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from Cable One’s previous quarterly dividend of $1.50. Cable One’s payout ratio is 37.57%.
CABO has been the subject of a number of analyst reports. Zacks Investment Research downgraded Cable One from a “buy” rating to a “sell” rating in a research note on Wednesday, May 10th. Raymond James Financial, Inc. initiated coverage on Cable One in a research note on Thursday, June 8th. They issued an “outperform” rating and a $785.00 price target for the company. TheStreet upgraded Cable One from a “c” rating to a “b-” rating in a research note on Monday, June 12th. Finally, BidaskClub downgraded Cable One from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $693.75.
In related news, major shareholder Donald Graham bought 24,561 shares of the business’s stock in a transaction on Monday, July 24th. The stock was acquired at an average price of $742.52 per share, with a total value of $18,237,033.72. Following the transaction, the insider now owns 271,546 shares in the company, valued at approximately $201,628,335.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julia M. Laulis sold 867 shares of Cable One stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $736.35, for a total transaction of $638,415.45. Following the completion of the sale, the chief executive officer now directly owns 7,642 shares of the company’s stock, valued at approximately $5,627,186.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,889 shares of company stock valued at $7,122,222. 1.30% of the stock is currently owned by insiders.
Cable One Company Profile
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
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