Cable One, Inc. (NYSE:CABO) is Private Management Group Inc.'s 9th Largest Position

Key Points

• Private Management Group Inc. has increased its stake in Cable One, Inc. by 34.3%, now holding 152,567 shares worth approximately $40.5 million, making it the 9th largest holding in their portfolio.
• A number of institutional investors have significantly modified their positions in Cable One, with Federated Hermes Inc. increasing its stake by 201.8% in the last quarter.
• Recently, Cable One reported earnings of $12.32 per share for the quarter, slightly beating expectations, while their revenue of $380.6 million fell short of forecasts.

Private Management Group Inc. grew its holdings in Cable One, Inc. (NYSE:CABO - Free Report) by 34.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,567 shares of the company's stock after acquiring an additional 38,965 shares during the period. Cable One comprises about 1.5% of Private Management Group Inc.'s investment portfolio, making the stock its 9th biggest position. Private Management Group Inc. owned about 2.71% of Cable One worth $40,548,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new stake in shares of Cable One in the fourth quarter worth about $418,000. Envestnet Portfolio Solutions Inc. bought a new stake in Cable One during the fourth quarter worth approximately $221,000. KLP Kapitalforvaltning AS bought a new stake in Cable One during the fourth quarter worth approximately $326,000. LPL Financial LLC increased its stake in Cable One by 19.7% during the fourth quarter. LPL Financial LLC now owns 2,154 shares of the company's stock worth $780,000 after acquiring an additional 355 shares during the last quarter. Finally, Caisse Des Depots ET Consignations bought a new stake in Cable One during the fourth quarter worth approximately $316,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Cable One Trading Down 1.0%

NYSE:CABO traded down $1.48 during midday trading on Monday, hitting $142.85. The stock had a trading volume of 139,600 shares, compared to its average volume of 187,966. Cable One, Inc. has a one year low of $117.54 and a one year high of $436.99. The company has a market capitalization of $803.95 million, a price-to-earnings ratio of -56.91 and a beta of 0.81. The stock has a 50-day moving average of $137.98 and a 200 day moving average of $220.85. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.66.

Cable One (NYSE:CABO - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $12.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.21 by $0.11. Cable One had a positive return on equity of 9.38% and a negative net margin of 0.69%. The company had revenue of $380.60 million for the quarter, compared to analysts' expectations of $386.61 million. As a group, sell-side analysts forecast that Cable One, Inc. will post 32.08 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have 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 note on Tuesday, May 6th. Raymond James Financial cut Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. KeyCorp reaffirmed a "sector weight" rating on shares of Cable One in a research note on Friday, May 2nd. BNP Paribas Exane raised Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price on the stock in a research note on Monday, June 16th. Finally, BNP Paribas raised Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $309.25.

Insiders Place Their Bets

In related news, Director Wallace R. Weitz bought 7,000 shares of the stock in a transaction on Friday, June 13th. The stock was bought 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 directly owned 17,140 shares in the company, valued at approximately $2,271,564.20. This represents a 69.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mary E. Meduski bought 250 shares of the stock in a transaction on Wednesday, June 11th. The shares were bought at an average price of $148.00 per share, with a total value of $37,000.00. Following the acquisition, the director owned 3,599 shares of the company's stock, valued at $532,652. This trade represents a 7.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 7,400 shares of company stock valued at $984,342. 0.90% of the stock is owned by company insiders.

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.