Cable One (NYSE:CABO) Stock Price Down 5.1% - Here's Why

Cable One, Inc. (NYSE:CABO - Get Free Report) traded down 5.1% during trading on Wednesday . The company traded as low as $126.82 and last traded at $126.43. 21,720 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 138,012 shares. The stock had previously closed at $133.27.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Cable One from $340.00 to $240.00 and set an "underweight" rating for the company in a report on Friday, February 28th. BNP Paribas Exane raised shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price target for the company in a research note on Monday, June 16th. JPMorgan Chase & Co. lowered their target price on shares of Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. BNP Paribas upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. Finally, Raymond James Financial downgraded Cable One from an "outperform" rating to a "market perform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $309.25.

Cable One Stock Up 1.2%

The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.66. The company has a market cap of $735.84 million, a price-to-earnings ratio of -52.07 and a beta of 0.82. The stock has a fifty day moving average price of $168.22 and a two-hundred day moving average price of $254.82.

Cable One (NYSE:CABO - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $12.32 EPS for the quarter, beating analysts' consensus estimates of $12.21 by $0.11. The business had revenue of $380.60 million during the quarter, compared to the consensus estimate 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, sell-side analysts expect that Cable One, Inc. will post 32.08 EPS for the current year.

Insider Buying and Selling at Cable One

In other Cable One news, Director Mary E. Meduski bought 250 shares of Cable One stock in a transaction on Wednesday, June 11th. The shares were purchased at an average cost of $148.00 per share, with a total value of $37,000.00. Following the acquisition, the director now directly owns 3,599 shares of the company's stock, valued at $532,652. The trade was a 7.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wallace R. Weitz bought 7,000 shares of Cable One stock in a transaction on Friday, June 13th. The shares were acquired at an average cost of $132.53 per share, for a total transaction 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,400 shares of company stock worth $984,342 over the last 90 days. Insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in Cable One during the first quarter worth $30,000. Brooklyn Investment Group increased its holdings in Cable One by 5,233.3% during the first quarter. Brooklyn Investment Group now owns 160 shares of the company's stock worth $43,000 after buying an additional 157 shares during the last quarter. AlphaQuest LLC purchased a new stake in Cable One during the fourth quarter worth about $49,000. Farther Finance Advisors LLC increased its stake in shares of Cable One by 1,435.7% in the first quarter. Farther Finance Advisors LLC now owns 215 shares of the company's stock worth $58,000 after purchasing an additional 201 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Cable One by 201.8% in the fourth quarter. Federated Hermes Inc. now owns 166 shares of the company's stock worth $60,000 after purchasing an additional 111 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.