MYDA Advisors LLC Lowers Stock Position in Cable One, Inc. $CABO

Key Points

• MYDA Advisors LLC reduced its stake in Cable One, Inc. by 31.3%, selling 4,700 shares and now holding approximately 10,300 shares, valued at about $2.7 million.
• Cable One reported disappointing earnings for the last quarter with an EPS of $3.23, missing estimates by $5.00, and a negative net margin of 32.18%.
• Brokerages have significantly lowered their price targets on Cable One, with Wells Fargo reducing theirs from $210 to $120, while the consensus target now stands at approximately $279.25.

MYDA Advisors LLC cut its stake in Cable One, Inc. (NYSE:CABO - Free Report) by 31.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,300 shares of the company's stock after selling 4,700 shares during the quarter. Cable One comprises about 0.5% of MYDA Advisors LLC's portfolio, making the stock its 29th biggest position. MYDA Advisors LLC owned approximately 0.18% of Cable One worth $2,737,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clarkston Capital Partners LLC grew its stake in Cable One by 34.2% during the 1st quarter. Clarkston Capital Partners LLC now owns 357,192 shares of the company's stock valued at $94,931,000 after purchasing an additional 90,934 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in shares of Cable One by 27.2% in the first quarter. Burgundy Asset Management Ltd. now owns 402,403 shares of the company's stock valued at $106,947,000 after purchasing an additional 86,019 shares in the last quarter. Pacer Advisors Inc. grew its position in Cable One by 14,346.4% in the first quarter. Pacer Advisors Inc. now owns 59,808 shares of the company's stock worth $15,895,000 after acquiring an additional 59,394 shares during the period. GAMMA Investing LLC grew its stake in shares of Cable One by 24,442.9% in the first quarter. GAMMA Investing LLC now owns 48,104 shares of the company's stock valued at $12,785,000 after buying an additional 47,908 shares in the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Cable One by 47.9% in the 1st quarter. Brown Advisory Inc. now owns 131,576 shares of the company's stock valued at $34,969,000 after buying an additional 42,606 shares during the period. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cable One

In related news, Director Mary E. Meduski purchased 250 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average price of $148.00 per share, with a total value of $37,000.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wallace R. Weitz purchased 7,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were bought at an average cost of $132.53 per share, for a total transaction of $927,710.00. Following the acquisition, the director 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 disclosure for this purchase can be found here. In the last three months, insiders have purchased 7,400 shares of company stock worth $984,342. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Cable One from $210.00 to $120.00 and set an "underweight" rating on the stock in a research note on Friday, August 1st. 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. 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 research note on Monday, June 16th. Finally, BNP Paribas upgraded Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $279.25.

Cable One Stock Performance

Shares of CABO traded up $4.29 during midday trading on Friday, reaching $162.18. 108,906 shares of the stock were exchanged, compared to its average volume of 172,377. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.37 and a quick ratio of 0.37. Cable One, Inc. has a twelve month low of $117.54 and a twelve month high of $436.99. The business's 50-day moving average price is $141.07 and its 200 day moving average price is $192.71. The company has a market capitalization of $912.88 million, a price-to-earnings ratio of -1.84 and a beta of 0.79.

Cable One (NYSE:CABO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $3.23 earnings per share (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 company had revenue of $381.07 million for the quarter, compared to analysts' expectations of $379.81 million. During the same period in the prior year, the business earned $10.29 EPS. On average, sell-side analysts expect that Cable One, Inc. will post 32.08 EPS for the current fiscal 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.