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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its stake in Cable One by 2.0% during the first quarter. SummerHaven Investment Management LLC now owns 2,392 shares of the company's stock worth $636,000 after purchasing an additional 47 shares in the last quarter. Spire Wealth Management lifted its stake in Cable One by 21.3% during the first quarter. Spire Wealth Management now owns 382 shares of the company's stock worth $102,000 after purchasing an additional 67 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Cable One during the 1st quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cable One by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,210 shares of the company's stock worth $1,162,000 after acquiring an additional 129 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in Cable One by 5,233.3% during the 1st quarter. Brooklyn Investment Group now owns 160 shares of the company's stock worth $43,000 after acquiring an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

Cable One Stock Up 1.1%

NYSE:CABO traded up $1.93 during mid-day trading on Wednesday, hitting $172.66. The stock had a trading volume of 111,451 shares, compared to its average volume of 113,308. The stock has a 50-day simple moving average of $149.27 and a two-hundred day simple moving average of $183.10. The company has a market capitalization of $972.06 million, a PE ratio of -1.95 and a beta of 0.81. Cable One, Inc. has a twelve month low of $117.54 and a twelve month high of $436.99. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.16.

Cable One (NYSE:CABO - Get Free Report) last announced its quarterly earnings data 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 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 quarter in the previous year, the business posted $10.29 earnings per share. On average, equities research analysts anticipate that Cable One, Inc. will post 32.08 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CABO shares. Wells Fargo & Company reduced their price target on shares of Cable One from $210.00 to $120.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st. BNP Paribas upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a report on Monday, June 16th. Finally, BNP Paribas Exane upgraded shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price on the stock in a report on Monday, June 16th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target 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.