Hsbc Holdings PLC Acquires 6,891 Shares of Cable One, Inc. $CABO

Key Points

• Hsbc Holdings PLC increased its stake in Cable One, Inc. by 866.8%, acquiring an additional 6,891 shares during the first quarter, bringing its total holdings to 7,686 shares valued at approximately $2,048,000.
• Directors of Cable One have recently engaged in insider buying, with notable transactions including Mary E. Meduski purchasing 250 shares and Wallace R. Weitz acquiring 7,000 shares, reflecting confidence in the company's prospects.
• Cable One reported a loss per share of $3.23 for the last quarter, significantly missing analysts' expectations of $8.23, while its revenue was slightly above consensus at $381.07 million.

Hsbc Holdings PLC raised its stake in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 866.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,686 shares of the company's stock after buying an additional 6,891 shares during the quarter. Hsbc Holdings PLC owned about 0.14% of Cable One worth $2,048,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Cable One during the 1st quarter worth about $30,000. Brooklyn Investment Group grew its position in shares of Cable One by 5,233.3% in the 1st quarter. Brooklyn Investment Group now owns 160 shares of the company's stock valued at $43,000 after purchasing an additional 157 shares during the period. Farther Finance Advisors LLC grew its position in shares of Cable One by 1,435.7% in the 1st quarter. Farther Finance Advisors LLC now owns 215 shares of the company's stock valued at $58,000 after purchasing an additional 201 shares during the period. Spire Wealth Management grew its position in shares of Cable One by 21.3% in the 1st quarter. Spire Wealth Management now owns 382 shares of the company's stock valued at $102,000 after purchasing an additional 67 shares during the period. Finally, Mariner LLC acquired a new position in shares of Cable One in the 4th quarter valued at approximately $224,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Wallace R. Weitz bought 7,000 shares of the company'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 owned 17,140 shares of the company's stock, valued at $2,271,564.20. This represents a 69.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary E. Meduski purchased 250 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average cost of $148.00 per share, with a total value of $37,000.00. Following the purchase, the director owned 3,599 shares of the company's stock, valued at $532,652. This represents a 7.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 7,400 shares of company stock valued at $984,342 in the last three months. Insiders own 0.90% of the company's stock.

Cable One Stock Performance

CABO stock traded up $4.29 during midday trading on Monday, reaching $162.18. 108,906 shares of the company were exchanged, compared to its average volume of 156,969. Cable One, Inc. has a one year low of $117.54 and a one year high of $436.99. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $913.05 million, a price-to-earnings ratio of -1.84 and a beta of 0.81. The business has a 50-day moving average price of $141.07 and a two-hundred day moving average price of $192.07.

Cable One (NYSE:CABO - Get Free Report) last posted its 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 positive return on equity of 8.40% and a negative net margin of 32.18%.The firm had revenue of $381.07 million for the quarter, compared to analyst estimates of $379.81 million. During the same period in the prior year, the business posted $10.29 EPS. Equities research analysts forecast that Cable One, Inc. will post 32.08 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased 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, August 1st. JPMorgan Chase & Co. decreased their price target on shares of Cable One from $325.00 to $222.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. BNP Paribas raised shares of Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. Finally, 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 note on Monday, June 16th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cable One currently 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.