W.E. Donoghue & Co. LLC acquired a new position in Cable One Inc (NYSE:CABO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,221 shares of the company’s stock, valued at approximately $2,601,000.
A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Cable One in the 4th quarter valued at about $37,088,000. Jacobs Levy Equity Management Inc. lifted its holdings in Cable One by 206.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 39,097 shares of the company’s stock valued at $38,369,000 after acquiring an additional 26,347 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Cable One by 73.8% in the 1st quarter. Wells Fargo & Company MN now owns 50,248 shares of the company’s stock valued at $49,313,000 after acquiring an additional 21,332 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Cable One by 903.5% in the 1st quarter. Martingale Asset Management L P now owns 15,083 shares of the company’s stock valued at $14,804,000 after acquiring an additional 13,580 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in Cable One by 50.7% in the 1st quarter. OppenheimerFunds Inc. now owns 34,611 shares of the company’s stock valued at $33,967,000 after acquiring an additional 11,643 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Cable One from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Stephens assumed coverage on shares of Cable One in a report on Wednesday, June 26th. They issued an “equal weight” rating and a $1,200.00 price target for the company. SunTrust Banks upped their price target on shares of Cable One to $1,020.00 and gave the company a “hold” rating in a report on Friday, May 10th. They noted that the move was a valuation call. KeyCorp reissued an “overweight” rating and issued a $1,316.00 price target (up from $1,210.00) on shares of Cable One in a report on Thursday, June 27th. Finally, Wolfe Research raised shares of Cable One from an “underperform” rating to a “peer perform” rating in a report on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $1,191.00.
CABO stock traded down $14.25 during mid-day trading on Friday, reaching $1,191.71. 53,246 shares of the stock traded hands, compared to its average volume of 46,079. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.72 and a current ratio of 1.72. Cable One Inc has a 52-week low of $713.46 and a 52-week high of $1,244.78. The stock has a market capitalization of $6.94 billion, a P/E ratio of 41.42 and a beta of 0.43. The stock has a fifty day moving average of $1,192.76.
Cable One (NYSE:CABO) last posted its quarterly earnings data on Thursday, May 9th. The company reported $6.78 EPS for the quarter, missing analysts’ consensus estimates of $8.10 by ($1.32). Cable One had a net margin of 15.01% and a return on equity of 22.57%. The firm had revenue of $278.61 million for the quarter, compared to analysts’ expectations of $279.23 million. During the same period in the prior year, the company posted $7.08 earnings per share. Cable One’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts forecast that Cable One Inc will post 31.42 earnings per share for the current year.
About Cable One
Cable One, Inc owns and operates cable systems that provide data, video, and voice services. The company offers residential data services, including WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home. It also provides residential video services, such as local networks; local community programming that includes governmental and public access; and other channels, which comprise weather, shopping, and religious channels, as well as digital video services, including national and regional cable networks, music channels, and an interactive electronic programming guide with parental controls.
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