Bank of New York Mellon Corp Cuts Stock Holdings in Cable One, Inc. $CABO

Key Points

• Bank of New York Mellon cut its Cable One holdings by 97% in the first quarter, selling 964,346 shares and retaining 29,417 shares worth approximately $2.68 million.
• Cable One shares opened at $37.44, near their 12-month low of $33.38, with the stock down 15.8% and market capitalization at roughly $212 million.
• Analyst sentiment remains negative: four analysts rate the stock “Hold” and two rate it “Sell,” producing a consensus “Reduce” rating and an average price target of $85.40.

Bank of New York Mellon Corp trimmed its holdings in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 97.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,417 shares of the company's stock after selling 964,346 shares during the period. Bank of New York Mellon Corp owned about 0.52% of Cable One worth $2,683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quarry LP lifted its stake in shares of Cable One by 1,011.1% in the 3rd quarter. Quarry LP now owns 200 shares of the company's stock valued at $35,000 after acquiring an additional 182 shares during the last quarter. Parallel Advisors LLC grew its position in Cable One by 2,288.9% during the 3rd quarter. Parallel Advisors LLC now owns 215 shares of the company's stock worth $38,000 after acquiring an additional 206 shares during the last quarter. Quantbot Technologies LP purchased a new position in Cable One in the 3rd quarter worth approximately $39,000. State of Wyoming purchased a new position in Cable One in the 2nd quarter worth approximately $50,000. Finally, US Bancorp DE lifted its position in Cable One by 128.1% in the third quarter. US Bancorp DE now owns 308 shares of the company's stock valued at $55,000 after purchasing an additional 173 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

Cable One Stock Down 15.8%

Shares of NYSE CABO opened at $37.44 on Friday. The firm has a fifty day simple moving average of $43.47 and a two-hundred day simple moving average of $73.26. Cable One, Inc. has a 12 month low of $33.38 and a 12 month high of $180.74. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $212.27 million, a PE ratio of -0.20 and a beta of 0.54.

Analyst Ratings Changes

A number of analysts have recently weighed in on CABO shares. BNP Paribas Exane raised Cable One from an "underperform" rating to a "neutral" rating and dropped their price objective for the company from $60.00 to $40.00 in a research note on Tuesday, July 14th. Zacks Research upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a report on Friday, July 3rd. TD Cowen dropped their price target on shares of Cable One from $111.00 to $86.00 and set a "hold" rating for the company in a research report on Friday. Weiss Ratings reissued a "sell (d-)" rating on shares of Cable One in a report on Friday, July 17th. Finally, Williams Trading set a $86.00 price objective on shares of Cable One in a research report on Friday. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $85.40.

Cable One Company Profile

Cable One, Inc NYSE: CABO is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One's infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.

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