Cable One (NYSE:CABO) Trading Down 5.8% - Here's Why

Cable One, Inc. (NYSE:CABO - Get Free Report)'s share price dropped 5.8% during trading on Friday . The company traded as low as $124.93 and last traded at $125.05. Approximately 47,639 shares changed hands during trading, a decline of 74% from the average daily volume of 182,651 shares. The stock had previously closed at $132.71.

Analyst Upgrades and Downgrades

CABO has been the subject of a number of recent research reports. 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 note 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. KeyCorp restated a "sector weight" rating on shares of Cable One in a research note on Friday, May 2nd. BNP Paribas Exane upgraded shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price for the company in a research note on Monday, June 16th. Finally, Raymond James Financial downgraded shares of Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $309.25.

Cable One Stock Performance

The company's fifty day simple moving average is $144.60 and its two-hundred day simple moving average is $238.64. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $702.83 million, a P/E ratio of -49.74 and a beta of 0.81.

Cable One (NYSE:CABO - Get Free Report) last issued 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. Cable One had a negative net margin of 0.69% and a positive return on equity of 9.38%. The firm had revenue of $380.60 million during the quarter, compared to the consensus estimate of $386.61 million. As a group, equities analysts forecast that Cable One, Inc. will post 32.08 EPS for the current year.

Insider Activity at Cable One

In other news, Director Mary E. Meduski acquired 250 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average cost of $148.00 per share, with a total value of $37,000.00. Following the completion of the purchase, the director directly owned 3,599 shares of the company's stock, valued at $532,652. The trade was a 7.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wallace R. Weitz acquired 7,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $132.53 per share, for a total transaction of $927,710.00. Following the completion of the purchase, the director directly owned 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 disclosure for this purchase can be found here. Insiders have bought 7,400 shares of company stock worth $984,342 over the last ninety days. Insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in Cable One in the first quarter valued at approximately $30,000. AlphaQuest LLC acquired a new stake in Cable One in the fourth quarter valued at approximately $49,000. Brooklyn Investment Group boosted its position in Cable One by 5,233.3% in the first quarter. Brooklyn Investment Group now owns 160 shares of the company's stock valued at $43,000 after buying an additional 157 shares in the last quarter. Federated Hermes Inc. boosted its position in Cable One by 201.8% in the fourth quarter. Federated Hermes Inc. now owns 166 shares of the company's stock valued at $60,000 after buying an additional 111 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Cable One by 1,435.7% in the first quarter. Farther Finance Advisors LLC now owns 215 shares of the company's stock valued at $58,000 after buying an additional 201 shares in the last quarter. 89.92% of the stock is owned by 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.