Cable One (NYSE:CABO) Shares Up 3.3% - Should You Buy?

Shares of Cable One, Inc. (NYSE:CABO - Get Free Report) traded up 3.3% during trading on Tuesday . The stock traded as high as $253.44 and last traded at $250.27. 44,972 shares changed hands during trading, a decline of 57% from the average session volume of 104,478 shares. The stock had previously closed at $242.25.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Cable One from $420.00 to $325.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. KeyCorp decreased their target price on Cable One from $825.00 to $650.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, Wells Fargo & Company decreased their target price on Cable One from $340.00 to $240.00 and set an "underweight" rating on the stock in a report on Friday, February 28th.

Cable One Stock Performance

The firm has a fifty day moving average of $310.80 and a 200-day moving average of $346.54. The firm has a market cap of $1.56 billion, a P/E ratio of 6.42 and a beta of 0.89. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were issued a $2.95 dividend. This represents a $11.80 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend was Tuesday, February 18th. Cable One's dividend payout ratio is 229.57%.

Remove Ads

Insider Activity at Cable One

In other news, Director Wallace R. Weitz purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $244.02 per share, for a total transaction of $244,020.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cable One

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Cable One during the fourth quarter worth about $2,137,000. Forum Financial Management LP bought a new position in Cable One during the fourth quarter worth about $630,000. Burgundy Asset Management Ltd. boosted its holdings in Cable One by 6.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company's stock worth $114,569,000 after buying an additional 19,545 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in Cable One by 182.9% during the fourth quarter. Point72 Hong Kong Ltd now owns 3,941 shares of the company's stock worth $1,427,000 after buying an additional 2,548 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Cable One by 45.2% during the fourth quarter. ProShare Advisors LLC now owns 1,681 shares of the company's stock worth $609,000 after buying an additional 523 shares during the last quarter. Institutional investors own 89.92% of the company's stock.

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.