Goldentree Asset Management LP Acquires New Position in Cable One, Inc. $CABO

Key Points

• Goldentree Asset Management bought 74,043 shares of Cable One in Q3 (about $13.0M), making CABO roughly 1.1% of Goldentree’s portfolio; overall hedge funds and other institutions own about 89.9% of the stock.
• Cable One reported a surprise quarterly loss (EPS $(1.35) vs. $7.60 expected) and the stock has dropped about 10.9%, while analysts have trimmed price targets and the consensus rating sits at “Reduce” with an average target of $114.25.

Goldentree Asset Management LP acquired a new stake in Cable One, Inc. (NYSE:CABO - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 74,043 shares of the company's stock, valued at approximately $13,033,000. Cable One comprises about 1.1% of Goldentree Asset Management LP's portfolio, making the stock its 19th largest position. Goldentree Asset Management LP owned approximately 1.31% of Cable One at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of Cable One by 180.0% in the third quarter. EverSource Wealth Advisors LLC now owns 140 shares of the company's stock valued at $25,000 after purchasing an additional 90 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Cable One by 7.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 1,312 shares of the company's stock worth $178,000 after buying an additional 96 shares during the last quarter. AlphaQuest LLC boosted its stake in Cable One by 9.2% during the third quarter. AlphaQuest LLC now owns 1,218 shares of the company's stock worth $216,000 after buying an additional 103 shares during the last quarter. Federated Hermes Inc. grew its holdings in Cable One by 11.5% in the 3rd quarter. Federated Hermes Inc. now owns 1,117 shares of the company's stock valued at $198,000 after buying an additional 115 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Cable One by 107.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 255 shares of the company's stock valued at $45,000 after buying an additional 132 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CABO shares. Zacks Research upgraded Cable One from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 12th. TD Cowen dropped their price objective on shares of Cable One from $260.00 to $142.00 and set a "hold" rating for the company in a report on Friday, February 27th. Wells Fargo & Company cut their price objective on shares of Cable One from $107.00 to $90.00 and set an "underweight" rating for the company in a research report on Friday, February 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cable One in a research note on Wednesday, January 21st. Finally, BNP Paribas Exane lowered shares of Cable One from a "neutral" rating to an "underperform" rating and set a $80.00 target price on the stock. in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Cable One currently has an average rating of "Reduce" and an average price target of $114.25.

Cable One Stock Down 10.9%

Shares of NYSE:CABO opened at $95.29 on Thursday. The firm has a market capitalization of $540.29 million, a PE ratio of -1.49 and a beta of 0.70. Cable One, Inc. has a 1 year low of $70.37 and a 1 year high of $277.96. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.40 and a quick ratio of 0.40. The firm's 50-day moving average is $98.17 and its two-hundred day moving average is $126.24.

Cable One (NYSE:CABO - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of $7.60 by ($8.95). The business had revenue of $363.74 million during the quarter, compared to analysts' expectations of $368.59 million. Cable One had a negative net margin of 23.74% and a positive return on equity of 7.36%. Analysts predict that Cable One, Inc. will post 32.08 EPS for the current year.

Cable One Company Profile

Cable One, Inc NYSE: CABO is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One's infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.

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