Vanguard Group Inc. Lowers Holdings in Cable One, Inc. $CABO

Key Points

• Vanguard Group Inc. reduced its holdings in Cable One, Inc. by 6.0%, selling 34,380 shares and owning 539,540 shares worth approximately $143.39 million at the end of the quarter.
• Cable One's latest earnings report showed a loss of $5.00 EPS from the expected earnings, with a revenue of $381.07 million which slightly exceeded estimates.
• Several analysts have revised their target prices for Cable One, with JPMorgan downgraded their target from $325.00 to $222.00, while Wells Fargo set a new target at $120.00.

Vanguard Group Inc. trimmed its holdings in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 6.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 539,540 shares of the company's stock after selling 34,380 shares during the period. Vanguard Group Inc. owned approximately 9.59% of Cable One worth $143,394,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CABO. SummerHaven Investment Management LLC lifted its stake in Cable One by 2.0% during the 1st quarter. SummerHaven Investment Management LLC now owns 2,392 shares of the company's stock valued at $636,000 after acquiring an additional 47 shares in the last quarter. Spire Wealth Management lifted its stake in Cable One by 21.3% during the 1st quarter. Spire Wealth Management now owns 382 shares of the company's stock valued at $102,000 after acquiring an additional 67 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Cable One during the 1st quarter valued at $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cable One by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,210 shares of the company's stock valued at $1,162,000 after acquiring an additional 129 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Cable One by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 3,448 shares of the company's stock valued at $1,249,000 after acquiring an additional 189 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Wallace R. Weitz bought 7,000 shares of the stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $132.53 per share, for a total transaction of $927,710.00. Following the acquisition, the director owned 17,140 shares of the company's stock, valued at $2,271,564.20. This represents a 69.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary E. Meduski purchased 250 shares of Cable One stock in a transaction dated Wednesday, June 11th. The stock was bought at an average cost of $148.00 per share, with a total value of $37,000.00. Following the completion of the transaction, the director owned 3,599 shares in the company, valued at approximately $532,652. This represents a 7.46% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,400 shares of company stock valued at $984,342. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CABO shares. 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. Raymond James Financial cut Cable One from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. BNP Paribas upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a research report 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 for the company in a research note on Friday, August 1st. Finally, KeyCorp reissued a "sector weight" rating on shares of Cable One in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Cable One has an average rating of "Reduce" and a consensus target price of $279.25.

Cable One Stock Performance

Shares of CABO stock traded down $5.32 during trading hours on Tuesday, reaching $157.53. 111,065 shares of the company traded hands, compared to its average volume of 189,477. Cable One, Inc. has a 12-month low of $117.54 and a 12-month high of $436.99. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $886.87 million, a P/E ratio of -1.78 and a beta of 0.79. The firm has a 50-day moving average price of $138.98 and a 200 day moving average price of $195.21.

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

Cable One 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.