Raymond James Financial Inc. Has $18.86 Million Stock Holdings in Cable One, Inc. $CABO

Key Points

• Raymond James Financial Inc. has reduced its holdings in Cable One, Inc. by 8.6%, owning approximately 1.26% of the company, worth around $18.86 million after selling 6,705 shares.
• Cable One reported an EPS of $3.23 for the last quarter, significantly missing the estimate of $8.23, while its revenue was $381.07 million compared to expectations of $379.81 million.
• Multiple analysts have adjusted their ratings for Cable One, with Raymond James downgrading its rating to "market perform" and Wells Fargo reducing the price target from $210 to $120.

Raymond James Financial Inc. lowered its holdings in Cable One, Inc. (NYSE:CABO - Free Report) by 8.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,973 shares of the company's stock after selling 6,705 shares during the period. Raymond James Financial Inc. owned approximately 1.26% of Cable One worth $18,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in shares of Cable One during the first quarter worth $574,000. Neuberger Berman Group LLC raised its holdings in shares of Cable One by 23.0% during the first quarter. Neuberger Berman Group LLC now owns 1,154 shares of the company's stock worth $307,000 after acquiring an additional 216 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Cable One by 294.0% during the first quarter. Public Sector Pension Investment Board now owns 45,164 shares of the company's stock worth $12,003,000 after acquiring an additional 33,702 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cable One during the first quarter worth $2,152,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cable One by 8.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 94,411 shares of the company's stock worth $25,092,000 after acquiring an additional 7,635 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Cable One from $325.00 to $222.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. BNP Paribas upgraded Cable One from a "strong sell" rating to a "hold" rating in a report on Monday, June 16th. Wells Fargo & Company cut their price objective on Cable One from $210.00 to $120.00 and set an "underweight" rating for the company in a report on Friday, August 1st. Finally, BNP Paribas Exane raised shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price on the stock in a research report on Monday, June 16th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cable One has an average rating of "Reduce" and an average price target of $279.25.

Insider Activity

In other Cable One news, Director Mary E. Meduski purchased 250 shares of the stock in a transaction dated Wednesday, June 11th. The shares were bought at an average cost of $148.00 per share, with a total value of $37,000.00. Following the completion of the transaction, the director owned 3,599 shares in the company, valued at $532,652. This trade represents a 7.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wallace R. Weitz purchased 7,000 shares of the stock in a transaction dated Friday, June 13th. The stock was acquired at an average cost of $132.53 per share, for a total transaction of $927,710.00. Following the completion of the transaction, the director owned 17,140 shares of the company's stock, valued at $2,271,564.20. The trade was a 69.03% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 7,400 shares of company stock worth $984,342. 0.90% of the stock is currently owned by company insiders.

Cable One Stock Up 2.7%

Cable One stock traded up $4.29 during mid-day trading on Monday, hitting $162.18. 108,906 shares of the company's stock were exchanged, compared to its average volume of 156,969. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.16. The stock has a market cap of $913.05 million, a P/E ratio of -1.84 and a beta of 0.81. Cable One, Inc. has a 1-year low of $117.54 and a 1-year high of $436.99. The stock has a 50 day moving average of $141.07 and a two-hundred day moving average of $192.07.

Cable One (NYSE:CABO - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $3.23 EPS for the quarter, missing the consensus estimate of $8.23 by ($5.00). The business had revenue of $381.07 million for the quarter, compared to analyst estimates of $379.81 million. Cable One had a positive return on equity of 8.40% and a negative net margin of 32.18%.During the same period in the previous year, the company earned $10.29 earnings per share. As a group, analysts anticipate that Cable One, Inc. will post 32.08 EPS for the current fiscal year.

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.