Cable One (NYSE:CABO) Share Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Cable One shares fell below their 50-day moving average, trading as low as $11.33 versus a 50-day average of $22.33, with the stock last changing hands near $11.71.
• Analyst sentiment remains cautious: four analysts rate the stock “Hold” and two rate it “Sell,” producing an average “Reduce” rating and an $80 price target. Several firms recently cut their targets, including BNP Paribas Exane, which lowered its target to $13.
• Institutional investors own nearly 90% of Cable One, with several funds increasing their positions during the second quarter, despite the company’s high debt-to-equity ratio of 9.27 and weak liquidity ratios.

Cable One, Inc. (NYSE:CABO - Get Free Report) crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $22.33 and traded as low as $11.33. Cable One shares last traded at $11.7060, with a volume of 832,257 shares.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CABO. TD Cowen decreased their target price on Cable One from $111.00 to $86.00 and set a "hold" rating for the company in a research note on Friday, August 7th. Wall Street Zen downgraded Cable One from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. BNP Paribas Exane dropped their price target on Cable One from $40.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 29th. Williams Trading set a $86.00 price target on Cable One in a report on Friday, August 7th. Finally, Zacks Research raised Cable One from a "strong sell" rating to a "hold" rating in a research report on Friday, October 9th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $80.00.

Cable One Stock Up 1.4%

The firm's 50-day simple moving average is $22.33 and its 200-day simple moving average is $47.50. The company has a debt-to-equity ratio of 9.27, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $66.37 million, a price-to-earnings ratio of -0.06 and a beta of 0.52.

Institutional Investors Weigh In On Cable One

Several hedge funds have recently made changes to their positions in CABO. Integrated Wealth Concepts LLC bought a new stake in shares of Cable One in the 2nd quarter worth approximately $34,000. Squarepoint Ops LLC acquired a new stake in shares of Cable One during the 2nd quarter worth approximately $1,203,000. Corient Private Wealth LP increased its position in shares of Cable One by 34.9% during the second quarter. Corient Private Wealth LP now owns 16,807 shares of the company's stock valued at $893,000 after purchasing an additional 4,351 shares during the period. Susquehanna International Group LLP increased its position in shares of Cable One by 626.5% during the second quarter. Susquehanna International Group LLP now owns 40,336 shares of the company's stock valued at $2,142,000 after purchasing an additional 34,784 shares during the period. Finally, Private Management Group Inc. increased its position in shares of Cable One by 55.1% during the second quarter. Private Management Group Inc. now owns 471,990 shares of the company's stock valued at $25,067,000 after purchasing an additional 167,590 shares during the period. Institutional investors own 89.92% of the company's stock.

About Cable One

Cable One, Inc NYSE: CABO is a broadband communications provider serving residential and business customers in communities across the United States. The company operates primarily through the Sparklight brand and provides high-speed internet, video and voice services, along with related communications solutions.

For residential customers, Cable One offers broadband internet access, television programming and digital phone services. Its business operations provide internet connectivity, data transport, voice services, managed solutions and other telecommunications products to small and medium-sized businesses, enterprise customers and institutions.

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