Cable One (NYSE:CABO) Trading Down 3.2% - Here's What Happened

Cable One, Inc. (NYSE:CABO - Get Free Report) shares fell 3.2% during mid-day trading on Friday . The company traded as low as $366.50 and last traded at $366.50. Approximately 2,127 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 101,517 shares. The stock had previously closed at $378.48.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price target on Cable One from $480.00 to $470.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $554.40.

Cable One Price Performance

The stock has a market capitalization of $2.10 billion, a P/E ratio of 8.66 and a beta of 0.87. The company's 50 day simple moving average is $379.12 and its two-hundred day simple moving average is $366.28. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93.

Cable One Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Tuesday, December 3rd will be paid a $2.95 dividend. This represents a $11.80 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Tuesday, December 3rd. Cable One's dividend payout ratio is currently 27.29%.

Institutional Investors Weigh In On Cable One

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC bought a new stake in shares of Cable One during the second quarter valued at approximately $45,000. KBC Group NV lifted its holdings in Cable One by 45.5% during the 3rd quarter. KBC Group NV now owns 160 shares of the company's stock worth $56,000 after buying an additional 50 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Cable One by 20.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 171 shares of the company's stock valued at $60,000 after buying an additional 29 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Cable One in the 2nd quarter valued at $65,000. Finally, GAMMA Investing LLC raised its position in shares of Cable One by 32.2% during the third quarter. GAMMA Investing LLC now owns 197 shares of the company's stock worth $69,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds 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.