Clarkston Capital Partners LLC Increases Position in 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 raised its stake in Cable One, Inc. (NYSE:CABO - Free Report) by 34.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 357,192 shares of the company's stock after acquiring an additional 90,934 shares during the quarter. Cable One makes up 1.9% of Clarkston Capital Partners LLC's holdings, making the stock its 19th biggest position. Clarkston Capital Partners LLC owned approximately 6.35% of Cable One worth $94,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CABO. Burgundy Asset Management Ltd. increased its position in Cable One by 27.2% in the first quarter. Burgundy Asset Management Ltd. now owns 402,403 shares of the company's stock worth $106,947,000 after buying an additional 86,019 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 during the period. Private Management Group Inc. increased its holdings in Cable One by 34.3% in the 1st quarter. Private Management Group Inc. now owns 152,567 shares of the company's stock worth $40,548,000 after acquiring an additional 38,965 shares during the last quarter. Brown Advisory Inc. increased its holdings in Cable One by 47.9% in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cable One by 8.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 94,411 shares of the company's stock valued at $25,092,000 after purchasing an additional 7,635 shares during the period. 89.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Cable One

In other news, Director Mary E. Meduski acquired 250 shares of Cable One stock in a transaction that occurred on Wednesday, June 11th. The stock was bought 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 owned 3,599 shares in the company, valued at $532,652. The trade was a 7.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wallace R. Weitz acquired 7,000 shares of the company's stock in a transaction that occurred 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. The trade was a 69.03% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 7,400 shares of company stock valued at $984,342 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Cable One Stock Down 0.9%

Shares of CABO traded down $1.40 during mid-day trading on Tuesday, reaching $161.45. The company had a trading volume of 41,027 shares, compared to its average volume of 187,922. The firm has a 50-day moving average price of $138.40 and a 200 day moving average price of $195.47. The company has a market capitalization of $908.96 million, a price-to-earnings ratio of -1.83 and a beta of 0.79. Cable One, Inc. has a 52 week low of $117.54 and a 52 week high of $436.99. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.37 and a current ratio of 0.37.

Cable One (NYSE:CABO - Get Free Report) last announced 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 the consensus estimate 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 last year, the business earned $10.29 EPS. On average, sell-side analysts forecast that Cable One, Inc. will post 32.08 EPS for the current year.

Wall Street Analysts Forecast Growth

CABO has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Cable One from $325.00 to $222.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. 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. BNP Paribas raised Cable One from a "strong sell" rating to a "hold" rating in a report on Monday, June 16th. KeyCorp reissued a "sector weight" rating on shares of Cable One in a report on Friday, May 2nd. Finally, Raymond James Financial downgraded shares of Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $279.25.

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.