Cable One, Inc. $CABO Shares Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Cable One, Inc. by 57.0% during the first quarter, owning approximately 5.74% of the company, valued at $85.92 million.
• Cable One reported a loss of $5.00 per share, missing the consensus estimate by $5.00, despite revenue exceeding analyst expectations at $381.07 million.
• Wall Street analysts have generally downgraded the stock, with JPMorgan reducing its price target from $325.00 to $222.00 and Wells Fargo dropping their target to $120.00.

Canada Pension Plan Investment Board increased its position in Cable One, Inc. (NYSE:CABO - Free Report) by 57.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 323,300 shares of the company's stock after purchasing an additional 117,389 shares during the period. Canada Pension Plan Investment Board owned 5.74% of Cable One worth $85,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CABO. Meeder Asset Management Inc. purchased a new stake in shares of Cable One in the 1st quarter valued at about $30,000. Brooklyn Investment Group lifted its holdings in shares of Cable One by 5,233.3% in the 1st quarter. Brooklyn Investment Group now owns 160 shares of the company's stock valued at $43,000 after purchasing an additional 157 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Cable One by 1,435.7% in the 1st quarter. Farther Finance Advisors LLC now owns 215 shares of the company's stock valued at $58,000 after purchasing an additional 201 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Cable One by 21.3% in the 1st quarter. Spire Wealth Management now owns 382 shares of the company's stock valued at $102,000 after purchasing an additional 67 shares during the last quarter. Finally, Mariner LLC purchased a new stake in shares of Cable One in the 4th quarter valued at about $224,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CABO. BNP Paribas raised Cable One from a "strong sell" rating to a "hold" rating in a report on Monday, June 16th. JPMorgan Chase & Co. reduced their price objective on Cable One from $325.00 to $222.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. BNP Paribas Exane raised Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price objective for the company in a research note on Monday, June 16th. 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 research note on Friday, August 1st. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Cable One currently has an average rating of "Reduce" and an average price target of $279.25.

Cable One Stock Performance

NYSE CABO traded down $2.26 on Wednesday, hitting $156.12. 74,740 shares of the company's stock were exchanged, compared to its average volume of 185,627. 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 firm's 50-day moving average price is $142.27 and its two-hundred day moving average price is $190.92. 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 market cap of $878.77 million, a price-to-earnings ratio of -1.77 and a beta of 0.81.

Cable One (NYSE:CABO - Get Free Report) last released 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 positive return on equity of 8.40% and a negative net margin of 32.18%.The business had revenue of $381.07 million for the quarter, compared to analyst estimates of $379.81 million. During the same quarter in the previous year, the firm posted $10.29 EPS. On average, research analysts expect that Cable One, Inc. will post 32.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Wallace R. Weitz purchased 7,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average price of $132.53 per share, for a total transaction of $927,710.00. Following the acquisition, the director directly owned 17,140 shares in the company, valued at approximately $2,271,564.20. The trade was a 69.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary E. Meduski purchased 250 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average price of $148.00 per share, for a total transaction of $37,000.00. Following the acquisition, the director owned 3,599 shares in the company, valued at approximately $532,652. This trade represents a 7.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 7,400 shares of company stock worth $984,342. 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.