Public Sector Pension Investment Board Buys 33,702 Shares of Cable One, Inc. (NYSE:CABO)

Key Points

• The Public Sector Pension Investment Board increased its stake in Cable One, Inc. by 294% in the first quarter, owning approximately 0.80% of the company worth around $12 million.
• Cable One's recent earnings report revealed an EPS of $3.23, significantly below the expected $8.23, contributing to its negative net margin of 32.18%.
• Major research firms have downgraded their price targets for Cable One, with Wells Fargo cutting its target from $210 to $120, indicating a bearish outlook on the stock.

Public Sector Pension Investment Board raised its position in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 294.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,164 shares of the company's stock after purchasing an additional 33,702 shares during the quarter. Public Sector Pension Investment Board owned 0.80% of Cable One worth $12,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wedge Capital Management L L P NC bought a new stake in Cable One during the 1st quarter valued at about $1,745,000. Janus Henderson Group PLC boosted its holdings in shares of Cable One by 23.0% during the 4th quarter. Janus Henderson Group PLC now owns 14,090 shares of the company's stock valued at $5,101,000 after acquiring an additional 2,633 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Cable One by 19.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 28,349 shares of the company's stock valued at $7,534,000 after acquiring an additional 4,689 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Cable One by 16.8% during the 1st quarter. DAVENPORT & Co LLC now owns 69,578 shares of the company's stock valued at $18,631,000 after acquiring an additional 9,989 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Cable One by 18.7% during the 4th quarter. Northern Trust Corp now owns 66,507 shares of the company's stock valued at $24,084,000 after acquiring an additional 10,493 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Cable One Price Performance

NYSE:CABO traded up $3.03 during trading hours on Friday, hitting $154.98. 144,248 shares of the stock traded hands, compared to its average volume of 237,071. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.16. Cable One, Inc. has a 1 year low of $117.54 and a 1 year high of $436.99. The company has a market cap of $872.38 million, a price-to-earnings ratio of -1.75 and a beta of 0.79. The stock has a 50 day moving average price of $135.52 and a 200 day moving average price of $202.42.

Cable One (NYSE:CABO - Get Free Report) last issued 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 firm had revenue of $381.07 million for the quarter, compared to analysts' expectations of $379.81 million. Cable One had a negative net margin of 32.18% and a positive return on equity of 8.40%. During the same period in the prior year, the firm earned $10.29 EPS. Sell-side analysts forecast that Cable One, Inc. will post 32.08 EPS for the current fiscal year.

Analyst Ratings Changes

CABO has been the topic of a number of recent analyst reports. BNP Paribas raised shares of Cable One from a "strong sell" rating to a "hold" rating in a report on Monday, June 16th. KeyCorp reaffirmed a "sector weight" rating on shares of Cable One in a report on Friday, May 2nd. Raymond James Financial downgraded shares of Cable One from an "outperform" rating to a "market perform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Cable One from $210.00 to $120.00 and set an "underweight" rating on the stock in a report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $279.25.

Insider Activity at Cable One

In related news, Director Mary E. Meduski acquired 250 shares of Cable One stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of $148.00 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director directly owned 3,599 shares in the company, valued at approximately $532,652. This represents a 7.46% increase in their position. The transaction 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 Cable One stock in a transaction that occurred on Friday, June 13th. The stock was acquired at an average price of $132.53 per share, for a total transaction 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. The trade was a 69.03% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 7,400 shares of company stock worth $984,342. Company insiders own 0.90% of the company's stock.

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.