Envestnet Asset Management Inc. Reduces Position 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. lowered its position in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 75.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor 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 institutional investors and hedge funds have also recently made changes to their positions in CABO. Federated Hermes Inc. increased its holdings in Cable One by 201.8% in the fourth quarter. Federated Hermes Inc. now owns 166 shares of the company's stock valued at $60,000 after purchasing an additional 111 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Cable One by 1,435.7% in the first quarter. Farther Finance Advisors LLC now owns 215 shares of the company's stock worth $58,000 after acquiring an additional 201 shares during the period. Spire Wealth Management boosted its holdings in Cable One by 21.3% in the first 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. Summit Investment Advisors Inc. boosted its holdings in Cable One by 6.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 590 shares of the company's stock valued at $214,000 after acquiring an additional 37 shares during the last quarter. Finally, Mariner LLC acquired a new stake in Cable One during the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds own 89.92% of the company's stock.

Insider Buying and Selling at Cable One

In related news, Director Wallace R. Weitz purchased 7,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost 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. The trade was a 69.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary E. Meduski acquired 250 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were bought at an average cost of $148.00 per share, for a total transaction of $37,000.00. Following the acquisition, the director directly owned 3,599 shares in the company, valued at $532,652. This represents a 7.46% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 7,400 shares of company stock valued at $984,342 in the last quarter. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CABO shares. JPMorgan Chase & Co. cut their target price on Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. KeyCorp reiterated a "sector weight" rating on shares of Cable One in a research report on Friday, May 2nd. BNP Paribas upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a report on Monday, June 16th. Raymond James Financial lowered Cable One from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. Finally, BNP Paribas Exane upgraded Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price target on the stock in a report on Monday, June 16th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat.com, Cable One currently has an average rating of "Hold" and an average target price of $279.25.

Cable One Stock Down 0.3%

NYSE:CABO traded down $0.39 during trading hours on Thursday, hitting $136.19. 78,345 shares of the company traded hands, compared to its average volume of 191,321. 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 company has a market cap of $766.76 million, a PE ratio of -1.55 and a beta of 0.79. The firm's 50-day simple moving average is $135.72 and its 200-day simple moving average is $211.65. Cable One, Inc. has a one year low of $117.54 and a one year high of $436.99.

Cable One (NYSE:CABO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $3.23 EPS for the quarter, missing analysts' consensus estimates of $8.23 by ($5.00). Cable One had a positive return on equity of 8.40% and a negative net margin of 32.18%. The business had revenue of $381.07 million for the quarter, compared to the consensus estimate of $379.81 million. During the same quarter last year, the business posted $10.29 earnings per share. Equities analysts predict that Cable One, Inc. will post 32.08 earnings per share for the current year.

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.