Cable One (NYSE:CABO) Shares Down 4.2% - Time to Sell?

Cable One, Inc. (NYSE:CABO - Get Free Report) was down 4.2% on Wednesday . The company traded as low as $140.68 and last traded at $140.26. Approximately 55,796 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 131,723 shares. The stock had previously closed at $146.47.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CABO shares. JPMorgan Chase & Co. dropped their price objective on Cable One from $325.00 to $222.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Raymond James 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, Wells Fargo & Company lowered their target price on Cable One from $340.00 to $240.00 and set an "underweight" rating for the company in a research note on Friday, February 28th.

Cable One Trading Up 1.4%

The company has a 50-day moving average price of $194.05 and a 200-day moving average price of $274.45. The firm has a market capitalization of $743.63 million, a price-to-earnings ratio of 3.06 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.

Cable One (NYSE:CABO - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $386.61 million. Cable One had a return on equity of 10.98% and a net margin of 15.86%. As a group, research analysts forecast that Cable One, Inc. will post 32.08 EPS for the current fiscal year.

Insider Transactions at Cable One

In other news, Director Mary E. Meduski bought 250 shares of Cable One stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average cost of $148.00 per share, with a total value of $37,000.00. Following the acquisition, the director now owns 3,599 shares of the company's stock, valued at approximately $532,652. This trade represents a 7.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wallace R. Weitz bought 7,000 shares of Cable One stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost 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 in the company, valued at approximately $2,271,564.20. The trade was a 69.03% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.90% of the company's stock.

Institutional Trading of Cable One

Several institutional investors and hedge funds have recently added to or reduced their stakes in CABO. Empowered Funds LLC purchased a new stake in Cable One during the 4th quarter valued at approximately $215,000. Principal Financial Group Inc. raised its stake in Cable One by 4.9% during the 4th 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 during the last quarter. Sanctuary Advisors LLC raised its stake in Cable One by 10.6% during the 4th quarter. Sanctuary Advisors LLC now owns 1,598 shares of the company's stock valued at $579,000 after acquiring an additional 153 shares during the last quarter. Mraz Amerine & Associates Inc. raised its stake in Cable One by 8.1% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 5,619 shares of the company's stock valued at $2,035,000 after acquiring an additional 420 shares during the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in Cable One during the 4th quarter valued at approximately $203,000. 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.