Wallace Capital Management Inc. reduced its position in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,574 shares of the company's stock after selling 4,150 shares during the period. Cable One comprises about 2.1% of Wallace Capital Management Inc.'s investment portfolio, making the stock its 11th largest holding. Wallace Capital Management Inc. owned 0.76% of Cable One worth $15,417,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of CABO. Raymond James Financial Inc. acquired a new position in Cable One during the fourth quarter valued at approximately $28,129,000. Charles Schwab Investment Management Inc. boosted its position in Cable One by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 86,776 shares of the company's stock valued at $31,423,000 after purchasing an additional 7,055 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Cable One by 5.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 23,660 shares of the company's stock valued at $8,568,000 after purchasing an additional 1,297 shares during the last quarter. Northern Trust Corp boosted its position in Cable One by 18.7% during the fourth quarter. Northern Trust Corp now owns 66,507 shares of the company's stock valued at $24,084,000 after purchasing an additional 10,493 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Cable One during the fourth quarter valued at approximately $10,491,000. 89.92% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts recently commented on CABO shares. Wells Fargo & Company reduced their price target on Cable One from $340.00 to $240.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. KeyCorp reaffirmed a "sector weight" rating on shares of Cable One in a research report on Friday, May 2nd. Raymond James cut Cable One from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. Finally, 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 research report on Tuesday, May 6th.
Read Our Latest Stock Analysis on CABO
Cable One Stock Performance
Shares of CABO traded up $4.53 during mid-day trading on Friday, reaching $152.30. The company's stock had a trading volume of 251,972 shares, compared to its average volume of 126,287. Cable One, Inc. has a 1-year low of $140.69 and a 1-year high of $437.00. The stock has a market cap of $857.16 million, a P/E ratio of 3.52 and a beta of 1.00. The business has a 50-day simple moving average of $229.67 and a two-hundred day simple moving average of $300.92. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.84.
Cable One (NYSE:CABO - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $12.32 earnings per share for the quarter, topping analysts' consensus estimates of $12.21 by $0.11. The company had revenue of $380.60 million for the quarter, compared to analyst estimates of $386.61 million. Cable One had a return on equity of 10.98% and a net margin of 15.86%. As a group, equities research analysts anticipate that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.
Insider Transactions at Cable One
In other news, Director Wallace R. Weitz bought 1,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $244.02 per share, for a total transaction of $244,020.00. Following the completion of the purchase, the director now owns 5,584 shares in the company, valued at approximately $1,362,607.68. This trade represents a 21.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.
Cable One Profile
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Free Report)
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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