Ruane Cunniff & Goldfarb Inc. Acquires Shares of 10,000 Cable One, Inc. (CABO)
Ruane Cunniff & Goldfarb Inc. acquired a new position in shares of Cable One, Inc. (NYSE:CABO) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,000 shares of the company’s stock, valued at approximately $7,221,000. Ruane Cunniff & Goldfarb Inc. owned 0.17% of Cable One as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CABO. BB&T Corp boosted its stake in shares of Cable One by 23.8% during the third quarter. BB&T Corp now owns 15,452 shares of the company’s stock valued at $11,158,000 after purchasing an additional 2,970 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Cable One by 13.2% during the second quarter. Bank of New York Mellon Corp now owns 72,838 shares of the company’s stock valued at $51,780,000 after purchasing an additional 8,521 shares during the period. Prudential Financial Inc. boosted its stake in shares of Cable One by 20.7% during the second quarter. Prudential Financial Inc. now owns 13,134 shares of the company’s stock valued at $9,337,000 after purchasing an additional 2,249 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Cable One during the second quarter valued at $1,905,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Cable One by 16.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 18,314 shares of the company’s stock valued at $13,020,000 after purchasing an additional 2,523 shares during the period. 73.14% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on CABO. BidaskClub lowered shares of Cable One from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. SunTrust Banks reissued a “buy” rating and set a $815.00 target price on shares of Cable One in a research note on Friday, November 10th. Wells Fargo & Company reissued a “market perform” rating and set a $700.00 target price (down from $761.00) on shares of Cable One in a research note on Monday, November 13th. Zacks Investment Research lowered shares of Cable One from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, J P Morgan Chase & Co downgraded Cable One from a “neutral” rating to an “underweight” rating in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $705.00.
Shares of Cable One, Inc. (NYSE:CABO) opened at $694.82 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $3,980.89, a PE ratio of 33.93, a P/E/G ratio of 10.46 and a beta of 0.19. Cable One, Inc. has a fifty-two week low of $564.26 and a fifty-two week high of $788.00.
Cable One (NYSE:CABO) last released its quarterly earnings data on Wednesday, November 8th. The company reported $5.48 earnings per share for the quarter, beating the consensus estimate of $5.20 by $0.28. The firm had revenue of $253.85 million during the quarter, compared to the consensus estimate of $255.68 million. Cable One had a return on equity of 23.97% and a net margin of 12.95%. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.63 earnings per share. research analysts anticipate that Cable One, Inc. will post 22.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 21st will be issued a $1.75 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $7.00 annualized dividend and a dividend yield of 1.01%. Cable One’s payout ratio is currently 34.18%.
In other Cable One news, CFO Kevin P. Coyle sold 450 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $740.91, for a total value of $333,409.50. Following the completion of the transaction, the chief financial officer now directly owns 4,440 shares in the company, valued at $3,289,640.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael E. Bowker sold 1,244 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $740.59, for a total transaction of $921,293.96. Following the completion of the transaction, the chief operating officer now owns 7,104 shares of the company’s stock, valued at $5,261,151.36. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
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Cable One 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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