Victory Capital Management Inc. Lowers Stake in Cable One, Inc. (NYSE:CABO)

Key Points

• Victory Capital Management Inc. has reduced its holdings in Cable One, Inc. by 74.7% in the first quarter, now owning only 1,946 shares valued at $517,000.
• Insiders have recently purchased shares of Cable One, with Director Mary E. Meduski acquiring 250 shares and Director Wallace R. Weitz buying 7,000 shares, representing significant increases in their holdings.
• Cable One reported earnings that missed analysts' expectations, with an EPS of $3.23 compared to a consensus estimate of $8.23, alongside a negative net margin of 32.18% for the quarter.

Victory Capital Management Inc. lowered its stake in Cable One, Inc. (NYSE:CABO - Free Report) by 74.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,946 shares of the company's stock after selling 5,735 shares during the period. Victory Capital Management Inc.'s holdings in Cable One were worth $517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Burgundy Asset Management Ltd. raised its position in shares of Cable One by 6.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company's stock worth $114,569,000 after acquiring an additional 19,545 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cable One by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 166,756 shares of the company's stock worth $60,386,000 after acquiring an additional 10,211 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Cable One by 47.9% during the 1st quarter. Brown Advisory Inc. now owns 131,576 shares of the company's stock worth $34,969,000 after acquiring an additional 42,606 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Cable One during the 4th quarter worth approximately $28,129,000. Finally, DAVENPORT & Co LLC grew its stake in Cable One by 16.8% during the 1st quarter. DAVENPORT & Co LLC now owns 69,578 shares of the company's stock worth $18,631,000 after buying an additional 9,989 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

Wall Street Analysts Forecast Growth

CABO has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target 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. Raymond James Financial downgraded Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. BNP Paribas upgraded Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. KeyCorp restated a "sector weight" rating on shares of Cable One in a research note on Friday, May 2nd. Finally, Wells Fargo & Company reduced their price objective on Cable One from $210.00 to $120.00 and set an "underweight" rating for the company in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, Cable One currently has a consensus rating of "Hold" and a consensus price target of $279.25.

Cable One Price Performance

CABO stock traded down $12.18 during midday trading on Wednesday, hitting $138.83. 112,015 shares of the stock were exchanged, compared to its average volume of 191,145. The stock's 50-day moving average price is $135.97 and its 200-day moving average price is $212.17. The stock has a market cap of $781.61 million, a price-to-earnings ratio of -1.57 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 company has a debt-to-equity ratio of 2.16, a quick ratio of 0.36 and a current ratio of 0.37.

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

Insiders Place Their Bets

In related news, Director Wallace R. Weitz purchased 7,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was bought at an average cost of $132.53 per share, with a total value of $927,710.00. Following the completion of the acquisition, the director directly owned 17,140 shares in the company, valued at $2,271,564.20. The trade was a 69.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary E. Meduski purchased 250 shares of the business's 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 acquisition, the director owned 3,599 shares of the company's stock, 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. Over the last three months, insiders bought 7,400 shares of company stock valued at $984,342. 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.