Cable One (NYSE:CABO) Shares Gap Up on Insider Buying Activity

Shares of Cable One, Inc. (NYSE:CABO - Get Free Report) gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $131.81, but opened at $137.94. Cable One shares last traded at $133.46, with a volume of 16,002 shares changing hands.

Specifically, Director Wallace R. Weitz purchased 7,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average cost of $132.53 per share, for a total transaction of $927,710.00. Following the purchase, the director now directly owns 17,140 shares of the company's stock, valued at $2,271,564.20. The trade was a 69.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary E. Meduski purchased 250 shares of Cable One stock in a transaction that occurred on 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 transaction, the director now owns 3,599 shares in the company, valued at $532,652. The trade was a 7.46% increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BNP Paribas Exane upgraded Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price on the stock in a research note on Monday. KeyCorp restated a "sector weight" rating on shares of Cable One in a research note 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 on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective 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, Raymond James cut Cable One from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, Cable One currently has an average rating of "Hold" and a consensus target price of $309.25.

Cable One Price Performance

The company has a market capitalization of $747.43 million, a price-to-earnings ratio of 3.07 and a beta of 0.82. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.93 and a current ratio of 0.93. The company has a fifty day simple moving average of $194.05 and a two-hundred day simple moving average of $272.42.

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 for the quarter, beating analysts' consensus estimates of $12.21 by $0.11. The firm had revenue of $380.60 million for the quarter, compared to analysts' expectations of $386.61 million. Cable One had a net margin of 15.86% and a return on equity of 10.98%. As a group, research analysts anticipate that Cable One, Inc. will post 32.08 earnings per share for the current year.

Institutional Trading of Cable One

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

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