Trexquant Investment LP Takes Position in Cable One, Inc. (CABO)
Trexquant Investment LP acquired a new stake in shares of 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 acquired 597 shares of the company’s stock, valued at approximately $424,000.
A number of other hedge funds have also recently bought and sold shares of CABO. FMR LLC raised its position in Cable One by 0.5% in the fourth quarter. FMR LLC now owns 4,098 shares of the company’s stock valued at $2,548,000 after buying an additional 20 shares during the last quarter. Teachers Advisors LLC raised 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 valued at $2,719,000 after buying an additional 289 shares during the last quarter. Bank of Montreal Can raised its position in Cable One by 14.0% in the first quarter. Bank of Montreal Can now owns 11,823 shares of the company’s stock valued at $7,383,000 after buying an additional 1,454 shares during the last quarter. Capstone Asset Management Co. raised 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 valued at $358,000 after buying an additional 17 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of 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 during the last quarter. 75.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cable One, Inc. (NYSE CABO) opened at 736.33 on Tuesday. The stock’s 50 day moving average is $737.30 and its 200-day moving average is $681.77. Cable One, Inc. has a 12 month low of $527.75 and a 12 month high of $788.00. The company has a market cap of $4.22 billion, a P/E ratio of 39.54 and a beta of 0.30.
Cable One (NYSE:CABO) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $4.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 analysts’ expectations of $247.02 million. During the same period in the prior year, the business posted $4.62 EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities analysts forecast that Cable One, Inc. will post $20.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, August 11th. This is a boost from Cable One’s previous quarterly dividend of $1.50. Cable One’s dividend payout ratio (DPR) is 32.21%.
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A number of brokerages recently weighed in on CABO. Raymond James Financial, Inc. assumed coverage on shares of Cable One in a report on Thursday, June 8th. They issued an “outperform” rating and a $785.00 price objective for the company. TheStreet upgraded shares of Cable One from a “c” rating to a “b-” rating in a research note on Monday, June 12th. Zacks Investment Research lowered shares of Cable One from a “buy” rating to a “sell” rating in a research note on Wednesday, May 10th. BidaskClub lowered shares of Cable One from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, SunTrust Banks, Inc. assumed coverage on shares of Cable One in a research note on Tuesday, April 18th. They set a “buy” rating and a $715.00 target price for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Cable One has an average rating of “Buy” and a consensus price target of $693.75.
In related news, major shareholder Donald Graham sold 800 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $713.45, for a total transaction of $570,760.00. Following the completion of the transaction, the insider now owns 246,985 shares of the company’s stock, valued at $176,211,448.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Eric Michael Lardy sold 322 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $725.00, for a total transaction of $233,450.00. Following the transaction, the senior vice president now directly owns 2,542 shares of the company’s stock, valued at approximately $1,842,950. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,022 shares of company stock valued at $6,483,807. 1.30% of the stock is currently owned by corporate insiders.
About Cable One
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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