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

Cable One, Inc. (NYSE:CABO - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $127.28 and last traded at $128.40, with a volume of 410742 shares traded. The stock had previously closed at $129.83.

Analyst Upgrades and Downgrades

Several brokerages have commented on CABO. JPMorgan Chase & Co. cut their target price on Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. BNP Paribas Exane raised Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price target on the stock in a report on Monday. Raymond James Financial cut Cable One from an "outperform" rating to a "market perform" rating in a report on Friday, May 2nd. Wells Fargo & Company lowered their price target on Cable One from $340.00 to $240.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. Finally, KeyCorp reissued 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 assigned a hold rating to the company. Based on data from MarketBeat, Cable One presently has an average rating of "Hold" and an average price target of $309.25.

Cable One Trading Down 2.0%

The stock has a fifty day moving average of $183.68 and a 200 day moving average of $266.37. The company has a market capitalization of $708.83 million, a P/E ratio of -50.16 and a beta of 0.82. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.36 and a current ratio of 0.36.

Cable One (NYSE:CABO - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $12.32 EPS for the quarter, beating analysts' consensus estimates of $12.21 by $0.11. The business had revenue of $380.60 million for 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%. As a group, equities research analysts anticipate that Cable One, Inc. will post 32.08 EPS for the current fiscal year.

Insider Activity

In other news, Director Wallace R. Weitz acquired 7,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was purchased at an average price of $132.53 per share, for a total transaction of $927,710.00. Following the completion of the transaction, the director now directly owns 17,140 shares in the company, valued at approximately $2,271,564.20. This trade represents a 69.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary E. Meduski purchased 250 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average price of $148.00 per share, with a total value of $37,000.00. Following the transaction, the director now owns 3,599 shares of the company's stock, valued at $532,652. This represents a 7.46% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 7,400 shares of company stock worth $984,342 over the last 90 days. Corporate insiders own 0.90% of the company's stock.

Institutional Trading of Cable One

Several institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its stake in Cable One by 22.5% in the first quarter. Voya Investment Management LLC now owns 3,736 shares of the company's stock worth $993,000 after purchasing an additional 686 shares during the last quarter. Inspire Investing LLC lifted its stake in Cable One by 17.0% in the first quarter. Inspire Investing LLC now owns 1,297 shares of the company's stock worth $345,000 after purchasing an additional 188 shares during the last quarter. Bayforest Capital Ltd lifted its stake in Cable One by 498.3% in the first quarter. Bayforest Capital Ltd now owns 1,442 shares of the company's stock worth $383,000 after purchasing an additional 1,201 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cable One by 16.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,268 shares of the company's stock worth $4,589,000 after purchasing an additional 2,467 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Cable One during the first quarter valued at approximately $372,000. Institutional investors own 89.92% of the company's stock.

Cable One Company Profile

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.