Northern Trust Corp Sells 2,375 Shares of Cable One, Inc. $CABO

Key Points

• Northern Trust Corp reduced its stake in Cable One, Inc. by 3.6%, now owning approximately 1.14% of the company valued at $17.04 million after selling 2,375 shares.
• Cable One reported an EPS of $3.23 for the latest quarter, significantly missing estimates by $5.00, and had a negative net margin of 32.18%.
• Analysts have downgraded their price targets for Cable One, with estimates now ranging from $120.00 to $222.00, and a consensus rating of "Reduce."

Northern Trust Corp cut its holdings in Cable One, Inc. (NYSE:CABO - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,132 shares of the company's stock after selling 2,375 shares during the period. Northern Trust Corp owned 1.14% of Cable One worth $17,044,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CABO. Meeder Asset Management Inc. bought a new position in Cable One in the first quarter worth approximately $30,000. Brooklyn Investment Group raised its position in Cable One by 5,233.3% in the first quarter. Brooklyn Investment Group now owns 160 shares of the company's stock worth $43,000 after acquiring an additional 157 shares during the period. Farther Finance Advisors LLC raised its position in 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 raised its position in Cable One by 21.3% in the first quarter. Spire Wealth Management now owns 382 shares of the company's stock worth $102,000 after acquiring an additional 67 shares during the period. Finally, Mariner LLC bought a new position in Cable One in the fourth quarter worth approximately $224,000. 89.92% of the stock is currently owned by institutional investors.

Insider Transactions at Cable One

In other Cable One news, Director Mary E. Meduski bought 250 shares of Cable One stock in a transaction dated Wednesday, June 11th. The shares were purchased 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 approximately $532,652. This represents a 7.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wallace R. Weitz bought 7,000 shares of Cable One stock in a transaction dated Friday, June 13th. The stock was acquired at an average price of $132.53 per share, for a total transaction of $927,710.00. Following the completion of the acquisition, the director owned 17,140 shares in the company, 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. Over the last 90 days, insiders bought 7,400 shares of company stock worth $984,342. Insiders own 0.90% of the company's stock.

Cable One Price Performance

CABO traded up $3.18 during trading on Friday, hitting $163.68. 110,028 shares of the company traded hands, compared to its average volume of 126,351. Cable One, Inc. has a 1 year low of $117.54 and a 1 year high of $436.99. The company has a market cap of $921.34 million, a PE ratio of -1.85 and a beta of 0.81. The stock's 50-day simple moving average is $144.05 and its two-hundred day simple moving average is $188.89. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.16.

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 business had revenue of $381.07 million during the quarter, compared to the consensus estimate of $379.81 million. During the same quarter last year, the firm earned $10.29 earnings per share. As a group, sell-side analysts anticipate that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BNP Paribas upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a research report on Monday, June 16th. BNP Paribas Exane upgraded shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price objective on the stock in a research report on Monday, June 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Cable One from $210.00 to $120.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $279.25.

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.