Cable One (NYSE:CABO) Shares Up 6.6% - Here's Why

Cable One, Inc. (NYSE:CABO - Get Free Report) shares rose 6.6% during trading on Tuesday . The stock traded as high as $144.52 and last traded at $144.80. Approximately 92,299 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 131,369 shares. The stock had previously closed at $135.87.

Wall Street Analysts Forecast Growth

CABO has been the subject of several research analyst reports. Raymond James lowered Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. Wells Fargo & Company decreased their price objective 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. KeyCorp restated a "sector weight" rating on shares of Cable One in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. dropped their target price on Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th.

Cable One Trading Up 1.4%

The stock has a 50-day moving average price of $196.18 and a two-hundred day moving average price of $276.44. The stock has a market cap of $743.63 million, a PE ratio of 3.06 and a beta of 0.82. 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 released its earnings results on Thursday, May 1st. The company reported $12.32 earnings per share for the quarter, topping the consensus estimate of $12.21 by $0.11. Cable One had a return on equity of 10.98% and a net margin of 15.86%. The business had revenue of $380.60 million during the quarter, compared to the consensus estimate of $386.61 million. Sell-side analysts forecast that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary E. Meduski acquired 250 shares of Cable One stock in a transaction on 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 transaction, the director now owns 3,599 shares of the company's stock, valued at approximately $532,652. The trade was a 7.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in Cable One during the fourth quarter worth $215,000. Principal Financial Group Inc. boosted its stake in Cable One by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 28,572 shares of the company's stock valued at $10,346,000 after acquiring an additional 1,332 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Cable One by 10.6% during the fourth quarter. Sanctuary Advisors LLC now owns 1,598 shares of the company's stock worth $579,000 after acquiring an additional 153 shares during the last quarter. Mraz Amerine & Associates Inc. raised its position in Cable One by 8.1% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 5,619 shares of the company's stock valued at $2,035,000 after purchasing an additional 420 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in Cable One during the 4th quarter worth $203,000. 89.92% of the stock is 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.