Cable One (NYSE:CABO) Stock Price Down 7.2% - What's Next?

Key Points

• Cable One's stock price fell 7.2% in mid-day trading on Friday, reaching a low of $143.00 and closing at $141.78, with trading volume down by 88% compared to its average.
• Analysts have recently updated their ratings on Cable One, with BNP Paribas Exane upgrading the stock from "underperform" to "neutral" and lowering target prices by various analysts, including a drop from $325.00 to $222.00 by JPMorgan Chase & Co.
• The company reported earnings of $12.32 per share in its last quarterly report, exceeding expectations but experiencing a negative net margin of 0.69% and revenue of $380.60 million, slightly below estimates.
• Recent insider transactions include Director Mary E. Meduski buying 250 shares and Director Wallace R. Weitz acquiring 7,000 shares, indicating increased insider confidence in the stock.

Cable One, Inc. (NYSE:CABO - Get Free Report)'s share price was down 7.2% on Friday . The company traded as low as $143.00 and last traded at $141.78. Approximately 21,653 shares were traded during trading, a decline of 88% from the average daily volume of 186,745 shares. The stock had previously closed at $152.76.

Wall Street Analysts Forecast Growth

CABO has been the topic of several research reports. Raymond James Financial lowered Cable One from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. KeyCorp reaffirmed a "sector weight" rating on shares of Cable One in a research report on Friday, May 2nd. JPMorgan Chase & Co. cut their target price 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. BNP Paribas raised Cable One from a "strong sell" rating to a "hold" rating in a research report on Monday, June 16th. Finally, BNP Paribas Exane raised Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price objective on the stock in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $309.25.

Cable One Stock Down 1.4%

The firm has a market capitalization of $801.21 million, a price-to-earnings ratio of -56.70 and a beta of 0.81. The stock has a 50 day moving average of $137.98 and a 200 day moving average of $220.85. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.66.

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, topping analysts' consensus estimates of $12.21 by $0.11. Cable One had a positive return on equity of 9.38% and a negative net margin of 0.69%. The business had revenue of $380.60 million during the quarter, compared to the consensus estimate of $386.61 million. As a group, analysts expect that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mary E. Meduski acquired 250 shares of the firm's 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 completion of the purchase, the director owned 3,599 shares of the company's stock, valued at $532,652. This represents a 7.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wallace R. Weitz purchased 7,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were bought 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. In the last ninety days, insiders have bought 7,400 shares of company stock worth $984,342. Corporate insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Cable One

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC boosted its stake in Cable One by 960.0% in the second quarter. CWM LLC now owns 2,279 shares of the company's stock valued at $310,000 after acquiring an additional 2,064 shares during the last quarter. Inspire Investing LLC boosted its stake in Cable One by 125.4% in the second quarter. Inspire Investing LLC now owns 2,924 shares of the company's stock valued at $397,000 after acquiring an additional 1,627 shares during the last quarter. Mraz Amerine & Associates Inc. boosted its stake in Cable One by 31.3% in the second quarter. Mraz Amerine & Associates Inc. now owns 8,212 shares of the company's stock valued at $1,115,000 after acquiring an additional 1,958 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Cable One by 249.2% in the second quarter. DAVENPORT & Co LLC now owns 242,962 shares of the company's stock valued at $32,997,000 after acquiring an additional 173,384 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Cable One by 171.2% in the second quarter. Signaturefd LLC now owns 320 shares of the company's stock valued at $43,000 after acquiring an additional 202 shares during 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.