Cable One (NYSE:CABO) Sets New 52-Week Low - Here's What Happened

Cable One, Inc. (NYSE:CABO - Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $121.37 and last traded at $127.42, with a volume of 255690 shares trading hands. The stock had previously closed at $128.20.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial downgraded shares of Cable One from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. Wells Fargo & Company dropped their price target on shares of Cable One from $340.00 to $240.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. BNP Paribas upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. dropped their price target on shares of Cable One from $325.00 to $222.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Finally, BNP Paribas Exane upgraded shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price objective for the company in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $309.25.

Cable One Trading Up 1.2%

The firm has a market capitalization of $735.84 million, a price-to-earnings ratio of -52.07 and a beta of 0.82. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.36 and a quick ratio of 0.36. The firm's 50-day simple moving average is $168.22 and its 200 day simple moving average is $254.82.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CABO. Principal Financial Group Inc. grew its stake in shares of Cable One by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 28,572 shares of the company's stock worth $10,346,000 after purchasing an additional 1,332 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Cable One by 10.6% in the fourth quarter. Sanctuary Advisors LLC now owns 1,598 shares of the company's stock worth $579,000 after purchasing an additional 153 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Cable One in the fourth quarter worth $203,000. Global Retirement Partners LLC grew its stake in shares of Cable One by 15.5% in the fourth quarter. Global Retirement Partners LLC now owns 343 shares of the company's stock worth $124,000 after purchasing an additional 46 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Cable One by 20.1% in the fourth quarter. Handelsbanken Fonder AB now owns 1,193 shares of the company's stock worth $432,000 after purchasing an additional 200 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

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.