Wallace Capital Management Inc. Reduces Position in Cable One, Inc. (NYSE:CABO)

Wallace Capital Management Inc. trimmed its holdings in Cable One, Inc. (NYSE:CABO - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,574 shares of the company's stock after selling 4,150 shares during the quarter. Cable One makes up about 2.1% of Wallace Capital Management Inc.'s portfolio, making the stock its 11th biggest position. Wallace Capital Management Inc. owned 0.76% of Cable One worth $15,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CABO. Raymond James Financial Inc. purchased a new position in shares of Cable One during the fourth quarter worth approximately $28,129,000. Norges Bank bought a new position in Cable One in the fourth quarter worth approximately $11,993,000. Proficio Capital Partners LLC purchased a new position in Cable One during the 4th quarter worth $10,491,000. Northern Trust Corp increased its holdings in Cable One by 18.7% during the 4th quarter. Northern Trust Corp now owns 66,507 shares of the company's stock worth $24,084,000 after purchasing an additional 10,493 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Cable One by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 166,756 shares of the company's stock valued at $60,386,000 after purchasing an additional 10,211 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Cable One Price Performance

CABO opened at $152.50 on Tuesday. The firm has a market capitalization of $858.27 million, a PE ratio of 3.53 and a beta of 1.00. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93. The business's 50-day moving average is $236.40 and its two-hundred day moving average is $306.82. Cable One, Inc. has a 1 year low of $149.58 and a 1 year high of $437.00.

Cable One (NYSE:CABO - Get Free Report) last released its quarterly earnings results 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 net margin of 15.86% and a return on equity of 10.98%. The business had revenue of $380.60 million for the quarter, compared to analyst estimates of $386.61 million. Research analysts anticipate that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Wallace R. Weitz acquired 1,000 shares of Cable One stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $244.02 per share, for a total transaction of $244,020.00. Following the completion of the purchase, the director now directly owns 5,584 shares in the company, valued at $1,362,607.68. This trade represents a 21.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

CABO has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on shares of Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Raymond James downgraded shares of Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. KeyCorp reissued a "sector weight" rating on shares of Cable One in a research note on Friday, May 2nd. Finally, Wells Fargo & Company lowered their target price on Cable One from $340.00 to $240.00 and set an "underweight" rating for the company in a report on Friday, February 28th.

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.

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