Cable One (NYSE:CABO) Hits New 12-Month Low - Here's Why

Cable One, Inc. (NYSE:CABO - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $162.49 and last traded at $170.55, with a volume of 195732 shares traded. The stock had previously closed at $261.99.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their price target on Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a research report on Tuesday. Raymond James cut shares of Cable One from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. KeyCorp reissued a "sector weight" rating on shares of Cable One in a research report on Friday, May 2nd. Finally, Wells Fargo & Company cut their target price on Cable One from $340.00 to $240.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th.

Cable One Stock Up 1.4 %

The stock has a market cap of $996.27 million, a price-to-earnings ratio of 4.09 and a beta of 1.00. The firm's fifty day moving average price is $252.94 and its two-hundred day moving average price is $317.29. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93.

Cable One (NYSE:CABO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $12.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.21 by $0.11. The business had revenue of $380.60 million for the quarter, compared to analyst estimates of $386.61 million. Cable One had a return on equity of 10.98% and a net margin of 15.86%. Sell-side analysts forecast that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Cable One

In related news, Director Wallace R. Weitz acquired 1,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $244.02 per share, with a total value of $244,020.00. Following the completion of the purchase, the director now directly owns 5,584 shares in the company, valued at $1,362,607.68. This trade represents a 21.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Cable One

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of Cable One in the 4th quarter worth $28,129,000. Charles Schwab Investment Management Inc. grew its position in Cable One by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 86,776 shares of the company's stock worth $31,423,000 after purchasing an additional 7,055 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in Cable One by 5.8% in the 4th quarter. Kingsview Wealth Management LLC now owns 23,660 shares of the company's stock valued at $8,568,000 after buying an additional 1,297 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Cable One during the 4th quarter worth approximately $10,491,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Cable One by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 73,013 shares of the company's stock worth $26,439,000 after buying an additional 2,627 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

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.