Bank of New York Mellon Corp Boosts Stock Holdings in Cable One, Inc. (NYSE:CABO)

Bank of New York Mellon Corp grew its stake in Cable One, Inc. (NYSE:CABO - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,013 shares of the company's stock after purchasing an additional 2,627 shares during the period. Bank of New York Mellon Corp owned about 1.30% of Cable One worth $26,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CABO. Speece Thorson Capital Group Inc. raised its position in shares of Cable One by 24.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 27,348 shares of the company's stock worth $9,566,000 after purchasing an additional 5,394 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Cable One by 116.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,497 shares of the company's stock valued at $1,573,000 after purchasing an additional 2,419 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Cable One by 5.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 23,660 shares of the company's stock worth $8,568,000 after purchasing an additional 1,297 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Cable One by 4.9% during the fourth quarter. Principal Financial Group Inc. now owns 28,572 shares of the company's stock worth $10,346,000 after buying an additional 1,332 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Cable One by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,259 shares of the company's stock worth $1,140,000 after buying an additional 1,836 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company's stock.

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Insider Activity at Cable One

In related news, Director Wallace R. Weitz purchased 1,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost 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. The trade was a 21.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.70% of the stock is owned by insiders.

Cable One Trading Down 14.1 %

Shares of Cable One stock traded down $38.71 during mid-day trading on Thursday, hitting $236.03. The stock had a trading volume of 202,860 shares, compared to its average volume of 108,938. The firm has a 50-day moving average of $303.98 and a two-hundred day moving average of $344.59. The firm has a market cap of $1.33 billion, a P/E ratio of 5.46 and a beta of 0.93. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.84. Cable One, Inc. has a 12-month low of $233.59 and a 12-month high of $470.87.

Cable One Dividend Announcement

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

Wall Street Analysts Forecast Growth

CABO has been the topic of a number of recent research reports. KeyCorp lowered their price target 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. JPMorgan Chase & Co. dropped their price target on Cable One from $420.00 to $325.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, Wells Fargo & Company reduced their price objective 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.

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.