Cable One (NYSE:CABO) Shares Gap Up After 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 company's stock in a transaction that occurred on Friday, June 13th. The stock was bought 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 owns 17,140 shares in the company, valued at approximately $2,271,564.20. The trade was a 69.03% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary E. Meduski bought 250 shares of the company's stock in a transaction dated 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 acquisition, the director now owns 3,599 shares in the company, valued at approximately $532,652. This trade represents a 7.46% increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

Several research analysts have commented on CABO shares. BNP Paribas Exane raised 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 note on Monday. Wells Fargo & Company lowered their target price on shares of Cable One from $340.00 to $240.00 and set an "underweight" rating for the company in a report on Friday, February 28th. Raymond James Financial cut Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. KeyCorp reissued a "sector weight" rating on shares of Cable One in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. cut their price objective on Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, Cable One currently has a consensus rating of "Hold" and an average target price of $309.25.

Cable One Price Performance

The firm has a market capitalization of $708.83 million, a P/E ratio of -50.16 and a beta of 0.82. The stock's 50 day simple moving average is $186.37 and its 200 day simple moving average is $268.42. 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 announced its quarterly earnings results on Thursday, May 1st. The company reported $12.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.21 by $0.11. The firm had revenue of $380.60 million during the quarter, compared to analyst estimates 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, analysts expect that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cable One

Several hedge funds have recently made changes to their positions in CABO. Burgundy Asset Management Ltd. increased its stake 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 valued at $106,947,000 after buying an additional 86,019 shares during the period. Clarkston Capital Partners LLC grew 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 acquiring an additional 90,934 shares in the last quarter. Canada Pension Plan Investment Board increased its position in 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 purchasing an additional 117,389 shares during the period. Dimensional Fund Advisors LP raised 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 purchasing an additional 10,211 shares in the last quarter. Finally, Private Management Group Inc. raised its holdings in shares of Cable One by 34.3% in the 1st quarter. Private Management Group Inc. now owns 152,567 shares of the company's stock valued at $40,548,000 after purchasing an additional 38,965 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.