Cable One, Inc. $CABO Holdings Decreased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in Cable One, Inc. by 87.5%, selling 9,483 shares and retaining only 1,351 shares valued at $359,000.
• Several hedge funds made significant changes to their positions in Cable One, with Wedge Capital Management purchasing a new position valued at approximately $1.75 million and GAMMA Investing LLC increasing its stake by 24,442.9%.
• Cable One experienced a notable decline in earnings, reporting an EPS of $3.23 for the quarter, which missed analysts' expectations by $5.00.

Cubist Systematic Strategies LLC lessened its holdings in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 87.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,351 shares of the company's stock after selling 9,483 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Cable One were worth $359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Cable One in the 1st quarter valued at approximately $30,000. Brooklyn Investment Group increased its stake in shares of Cable One by 5,233.3% in the first quarter. Brooklyn Investment Group now owns 160 shares of the company's stock worth $43,000 after buying an additional 157 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Cable One by 1,435.7% in the first quarter. Farther Finance Advisors LLC now owns 215 shares of the company's stock valued at $58,000 after acquiring an additional 201 shares in the last quarter. Spire Wealth Management boosted its stake in Cable One by 21.3% during the 1st quarter. Spire Wealth Management now owns 382 shares of the company's stock valued at $102,000 after acquiring an additional 67 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in Cable One during the 4th quarter valued at $236,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Cable One Stock Performance

NYSE CABO traded up $0.68 during trading hours on Tuesday, reaching $167.80. The company's stock had a trading volume of 25,081 shares, compared to its average volume of 182,473. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.16. The business has a 50-day simple moving average of $147.73 and a 200 day simple moving average of $183.26. Cable One, Inc. has a 52 week low of $117.54 and a 52 week high of $436.99. The stock has a market cap of $944.70 million, a PE ratio of -1.90 and a beta of 0.81.

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 analysts' consensus estimates of $8.23 by ($5.00). The company had revenue of $381.07 million for the quarter, compared to analyst estimates of $379.81 million. Cable One had a positive return on equity of 8.40% and a negative net margin of 32.18%.During the same quarter in the previous year, the company posted $10.29 earnings per share. Equities research analysts predict that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BNP Paribas Exane raised shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price for the company in a research report on Monday, June 16th. Wells Fargo & Company decreased their price target 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. Finally, BNP Paribas upgraded Cable One from a "strong sell" rating to a "hold" rating 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 company. According to MarketBeat, Cable One currently has an average rating of "Reduce" and an average target price of $279.25.

Cable One 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.