Envestnet Asset Management Inc. Has $771,000 Stock Holdings in Cable One, Inc. (NYSE:CABO)

Key Points

• Envestnet Asset Management Inc. has reduced its stake in Cable One, Inc. by 75%, selling 8,707 shares and now owning only 2,900 shares valued at approximately $771,000.
• Analyst ratings for Cable One have been mixed, with a consensus price target of $279.25, reflecting ratings from "sell" to "hold."
• Cable One recently reported earnings of $3.23 EPS, significantly missing consensus estimates, and has a negative net margin of 32.18%.

Envestnet Asset Management Inc. cut its holdings in Cable One, Inc. (NYSE:CABO - Free Report) by 75.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,900 shares of the company's stock after selling 8,707 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of Cable One worth $771,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC bought a new stake in Cable One in the 4th quarter valued at $418,000. KLP Kapitalforvaltning AS bought a new stake in Cable One in the 4th quarter valued at $326,000. LPL Financial LLC grew its holdings in Cable One by 19.7% in the 4th quarter. LPL Financial LLC now owns 2,154 shares of the company's stock valued at $780,000 after buying an additional 355 shares in the last quarter. Norges Bank acquired a new position in Cable One in the 4th quarter valued at $11,993,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Cable One during the 4th quarter worth $979,000. Institutional investors and hedge funds own 89.92% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CABO. JPMorgan Chase & Co. reduced their price objective on Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on Cable One from $210.00 to $120.00 and set an "underweight" rating for the company in a research report on Friday. BNP Paribas Exane upgraded Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price objective for the company in a research report on Monday, June 16th. Raymond James Financial lowered Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. Finally, BNP Paribas raised Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $279.25.

Insider Buying and Selling

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

Cable One Price Performance

CABO traded up $5.09 during trading on Tuesday, reaching $151.16. The company's stock had a trading volume of 235,345 shares, compared to its average volume of 238,208. The company has a market cap of $851.03 million, a price-to-earnings ratio of -1.71 and a beta of 0.79. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 2.16. The firm has a fifty day simple moving average of $136.11 and a two-hundred day simple moving average of $212.59. Cable One, Inc. has a 1 year low of $117.54 and a 1 year high of $436.99.

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). Cable One had a negative net margin of 32.18% and a positive return on equity of 8.40%. The company had revenue of $381.07 million during the quarter, compared to analysts' expectations of $379.81 million. During the same period last year, the firm earned $10.29 earnings per share. As a group, analysts anticipate that Cable One, Inc. will post 32.08 EPS for the current year.

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.