Private Management Group Inc. Increases Stock Position in Cable One, Inc. $CABO

Key Points

• Private Management Group increased its Cable One stake by 55.1% in the second quarter, acquiring 167,590 additional shares and bringing its ownership to 8.32% of the company. Institutional investors collectively own 89.92% of CABO.
• Cable One shares opened at $25.27, near the lower end of their 52-week range of $21.98 to $180.74. The company carries substantial leverage, with a debt-to-equity ratio of 9.27.
• Analyst sentiment remains cautious: Cable One has an average “Reduce” rating and an average price target of $85.40, with three Hold and three Sell ratings following multiple target-price cuts.

Private Management Group Inc. boosted its holdings in Cable One, Inc. (NYSE:CABO - Free Report) by 55.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 471,990 shares of the company's stock after acquiring an additional 167,590 shares during the quarter. Private Management Group Inc. owned 8.32% of Cable One worth $25,067,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CABO. Baupost Group LLC MA purchased a new position in shares of Cable One in the third quarter worth $12,068,000. Man Group plc purchased a new stake in shares of Cable One during the second quarter valued at $4,972,000. Balyasny Asset Management L.P. boosted its position in shares of Cable One by 912.7% during the second quarter. Balyasny Asset Management L.P. now owns 57,297 shares of the company's stock valued at $7,782,000 after buying an additional 51,639 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Cable One in the 1st quarter worth about $3,395,000. Finally, Bridgeway Capital Management LLC bought a new stake in Cable One in the 2nd quarter worth about $4,822,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Cable One Stock Performance

Shares of CABO opened at $25.27 on Friday. The firm has a market capitalization of $143.28 million, a P/E ratio of -0.14 and a beta of 0.54. The company has a debt-to-equity ratio of 9.27, a current ratio of 0.48 and a quick ratio of 0.48. Cable One, Inc. has a one year low of $21.98 and a one year high of $180.74. The business has a fifty day moving average of $38.55 and a 200 day moving average of $67.29.

Wall Street Analysts Forecast Growth

CABO has been the topic of several research analyst reports. BNP Paribas Exane upgraded shares of Cable One from an "underperform" rating to a "neutral" rating and lowered their target price for the company from $60.00 to $40.00 in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of Cable One from a "sell (e)" rating to a "sell (e+)" rating in a research note on Wednesday. Williams Trading set a $86.00 price objective on shares of Cable One in a report on Friday, August 7th. Zacks Research downgraded shares of Cable One from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Finally, TD Cowen lowered their price objective on shares of Cable One from $111.00 to $86.00 and set a "hold" rating on the stock in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Cable One presently has an average rating of "Reduce" and an average price target of $85.40.

About Cable One

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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