Burgundy Asset Management Ltd. Has $106.95 Million Position in Cable One, Inc. $CABO

Key Points

• Burgundy Asset Management Ltd. has increased its position in Cable One, Inc. by 27.2%, now owning over 402,403 shares worth approximately $106.95 million.
• Insider transactions show that directors have purchased a total of 7,400 shares in the past three months, indicating confidence in the company's prospects.
• Cable One reported a loss of $5.00 per share in its last quarterly earnings, missing analysts' expectations, despite revenue exceeding estimates at $381.07 million.

Burgundy Asset Management Ltd. increased its holdings in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 27.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,403 shares of the company's stock after purchasing an additional 86,019 shares during the period. Burgundy Asset Management Ltd. owned approximately 7.15% of Cable One worth $106,947,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC lifted its stake in Cable One by 19.7% in the 4th quarter. LPL Financial LLC now owns 2,154 shares of the company's stock valued at $780,000 after acquiring an additional 355 shares in the last quarter. Federated Hermes Inc. lifted its stake in Cable One by 201.8% in the 4th quarter. Federated Hermes Inc. now owns 166 shares of the company's stock valued at $60,000 after acquiring an additional 111 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Cable One by 6.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 590 shares of the company's stock valued at $214,000 after acquiring an additional 37 shares in the last quarter. Mariner LLC bought a new stake in Cable One in the 4th quarter valued at approximately $224,000. Finally, Farringdon Capital Ltd. bought a new stake in Cable One in the 4th quarter valued at approximately $236,000. Institutional investors own 89.92% of the company's stock.

Cable One Stock Up 5.0%

Shares of NYSE:CABO traded up $7.71 during trading on Friday, hitting $160.93. 50,672 shares of the company were exchanged, compared to its average volume of 188,669. The stock has a market cap of $905.87 million, a price-to-earnings ratio of -1.82 and a beta of 0.79. Cable One, Inc. has a fifty-two week low of $117.54 and a fifty-two week high of $436.99. The firm has a fifty day moving average price of $137.11 and a two-hundred day moving average price of $198.35. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.16.

Cable One (NYSE:CABO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $3.23 earnings per share for the quarter, missing the consensus estimate of $8.23 by ($5.00). The company had revenue of $381.07 million for the quarter, compared to analyst estimates of $379.81 million. Cable One had a positive return on equity of 8.40% and a negative net margin of 32.18%.During the same period last year, the firm earned $10.29 EPS. As a group, research analysts anticipate that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CABO shares. 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 note on Tuesday, May 6th. BNP Paribas upgraded Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. Wells Fargo & Company cut their target price on Cable One from $210.00 to $120.00 and set an "underweight" rating on the stock in a research note on Friday, August 1st. BNP Paribas Exane upgraded Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price on the stock in a research note on Monday, June 16th. Finally, KeyCorp restated a "sector weight" rating on shares of Cable One in a research note on Friday, May 2nd. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $279.25.

Insider Activity at Cable One

In related news, Director Wallace R. Weitz purchased 7,000 shares of the stock in a transaction on Friday, June 13th. The shares were purchased at an average price of $132.53 per share, with a total value of $927,710.00. Following the transaction, the director directly owned 17,140 shares of the company's stock, valued at $2,271,564.20. This trade represents a 69.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary E. Meduski purchased 250 shares of the stock in a transaction on Wednesday, June 11th. The shares were bought at an average cost of $148.00 per share, for a total transaction of $37,000.00. Following the transaction, the director directly owned 3,599 shares in the company, valued at approximately $532,652. The trade was a 7.46% 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 in the last ninety days. Insiders own 0.90% of the company's stock.

About Cable One

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.