Clarkston Capital Partners LLC Purchases 90,934 Shares of Cable One, Inc. $CABO

Key Points

• Clarkston Capital Partners LLC increased its holdings in Cable One, Inc. by 34.2% after purchasing an additional 90,934 shares, bringing its total shares to 357,192.
• Cable One reported a quarterly earnings per share (EPS) of $3.23, significantly missing the consensus estimate of $8.23 and showing a negative net margin of 32.18%.
• Institutional investors hold approximately 89.92% of Cable One's stock, indicating strong investor confidence despite a recent downgrade from Raymond James Financial.

Clarkston Capital Partners LLC increased its position in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 34.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 357,192 shares of the company's stock after purchasing an additional 90,934 shares during the quarter. Cable One accounts for approximately 1.9% of Clarkston Capital Partners LLC's investment portfolio, making the stock its 19th largest position. Clarkston Capital Partners LLC owned 6.35% of Cable One worth $94,931,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CABO. Mariner LLC bought a new stake in Cable One during the fourth quarter worth about $224,000. Dimensional Fund Advisors LP lifted its position in Cable One by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 166,756 shares of the company's stock worth $60,386,000 after purchasing an additional 10,211 shares during the period. MetLife Investment Management LLC lifted its position in Cable One by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 3,448 shares of the company's stock worth $1,249,000 after purchasing an additional 189 shares during the period. Nebula Research & Development LLC lifted its position in Cable One by 391.7% during the fourth quarter. Nebula Research & Development LLC now owns 3,383 shares of the company's stock worth $1,225,000 after purchasing an additional 2,695 shares during the period. Finally, Three Seasons Wealth LLC bought a new stake in Cable One during the fourth quarter worth about $447,000. Institutional investors own 89.92% of the company's stock.

Cable One Stock Performance

Cable One stock opened at $156.2680 on Thursday. The business has a 50 day moving average of $136.65 and a 200-day moving average of $199.28. Cable One, Inc. has a 1 year low of $117.54 and a 1 year 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 capitalization of $879.79 million, a P/E ratio of -1.77 and a beta of 0.79.

Cable One (NYSE:CABO - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $381.07 million during the quarter, compared to analyst estimates of $379.81 million. During the same period in the prior year, the company earned $10.29 EPS. On average, equities research analysts predict that Cable One, Inc. will post 32.08 earnings per share for the current year.

Insider Activity at Cable One

In other news, Director Wallace R. Weitz purchased 7,000 shares of the stock in a transaction on Friday, June 13th. The stock was purchased at an average price of $132.53 per share, for a total transaction of $927,710.00. Following the acquisition, the director owned 17,140 shares in the company, valued at $2,271,564.20. This trade represents a 69.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary E. Meduski purchased 250 shares of the stock in a transaction on Wednesday, June 11th. The shares were purchased at an average price of $148.00 per share, with a total value of $37,000.00. Following the acquisition, the director owned 3,599 shares in the company, valued at approximately $532,652. The trade was a 7.46% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 7,400 shares of company stock valued at $984,342. Company insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

CABO has been the subject of several research analyst reports. Raymond James Financial downgraded Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. KeyCorp reissued a "sector weight" rating on shares of Cable One in a research note on Friday, May 2nd. BNP Paribas raised Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. lowered their target price 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. Finally, BNP Paribas Exane raised Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price for the company in a research note on Monday, June 16th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $279.25.

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.

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