Cable One (NYSE:CABO) Hits New 52-Week Low - Here's Why

Shares of Cable One, Inc. (NYSE:CABO - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $120.92 and last traded at $121.14, with a volume of 101367 shares traded. The stock had previously closed at $124.50.

Analysts Set New Price Targets

A number of brokerages have commented on CABO. JPMorgan Chase & Co. reduced their price objective on Cable One from $325.00 to $222.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. BNP Paribas Exane upgraded Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price objective on the stock in a research note on Monday, June 16th. BNP Paribas upgraded Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. Raymond James Financial cut Cable One from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. Finally, KeyCorp reiterated a "sector weight" rating on shares of Cable One in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $309.25.

Cable One Stock Up 0.8%

The stock has a 50 day simple moving average of $140.21 and a 200-day simple moving average of $231.83. The firm has a market cap of $702.57 million, a PE ratio of -49.57 and a beta of 0.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.36 and a quick ratio of 0.36.

Cable One (NYSE:CABO - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $12.32 EPS for the quarter, beating analysts' consensus estimates of $12.21 by $0.11. The company had revenue of $380.60 million during the quarter, compared to analysts' expectations of $386.61 million. Cable One had a positive return on equity of 9.38% and a negative net margin of 0.69%. Sell-side analysts predict that Cable One, Inc. will post 32.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary E. Meduski acquired 250 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average price of $148.00 per share, with a total value of $37,000.00. Following the acquisition, the director directly owned 3,599 shares in the company, valued at $532,652. This represents a 7.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wallace R. Weitz purchased 7,000 shares of Cable One stock in a transaction that occurred on Friday, June 13th. The stock was acquired at an average cost of $132.53 per share, with a total value of $927,710.00. Following the acquisition, the director directly owned 17,140 shares in the company, valued at $2,271,564.20. This trade represents a 69.03% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,400 shares of company stock valued at $984,342 over the last three months. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. grew its holdings in shares of Cable One by 27.2% during the first quarter. Burgundy Asset Management Ltd. now owns 402,403 shares of the company's stock worth $106,947,000 after buying an additional 86,019 shares during the last quarter. Clarkston Capital Partners LLC grew its stake in Cable One by 34.2% in the 1st quarter. Clarkston Capital Partners LLC now owns 357,192 shares of the company's stock worth $94,931,000 after acquiring an additional 90,934 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Cable One by 57.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 323,300 shares of the company's stock valued at $85,923,000 after buying an additional 117,389 shares during the period. Dimensional Fund Advisors LP boosted its position in Cable One by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 166,756 shares of the company's stock worth $60,386,000 after purchasing an additional 10,211 shares during the period. Finally, Private Management Group Inc. boosted its position in Cable One by 34.3% during the 1st quarter. Private Management Group Inc. now owns 152,567 shares of the company's stock worth $40,548,000 after purchasing an additional 38,965 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.

About Cable One

Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.