Cable One (NYSE:CABO) Stock Price Down 5.1% – Here’s Why

Cable One, Inc. (NYSE:CABO) traded down 5.1% during mid-day trading on Wednesday . The company traded as low as $268.12 and last traded at $264.36. 4,694 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 107,499 shares. The stock had previously closed at $278.69.

Analyst Ratings Changes

CABO has been the topic of a number of research reports. Wells Fargo & Company cut their price target on Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th. KeyCorp lowered their target price on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd.

Cable One Trading Down 14.1 %

The company has a 50 day simple moving average of $301.39 and a 200 day simple moving average of $343.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $1.33 billion, a PE ratio of 5.46 and a beta of 0.93.

Cable One Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th were paid a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Tuesday, February 18th. Cable One’s dividend payout ratio (DPR) is presently 229.57%.

Insider Activity at Cable One

In other news, Director Wallace R. Weitz acquired 1,000 shares of Cable One stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $244.02 per share, for a total transaction of $244,020.00. Following the completion of the transaction, the director now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Cable One

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of Cable One in the fourth quarter valued at approximately $28,129,000. Norges Bank purchased a new stake in shares of Cable One during the 4th quarter worth $11,993,000. Proficio Capital Partners LLC acquired a new position in shares of Cable One during the 4th quarter worth $10,491,000. Burgundy Asset Management Ltd. grew its stake in shares of Cable One by 6.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company’s stock worth $114,569,000 after purchasing an additional 19,545 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Cable One by 18.7% in the 4th 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 in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

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.