Cable One (NYSE:CABO) Trading Up 4.4% - Here's Why

Cable One, Inc. (NYSE:CABO - Get Free Report)'s stock price was up 4.4% during mid-day trading on Tuesday . The stock traded as high as $263.43 and last traded at $265.78. Approximately 37,803 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 111,843 shares. The stock had previously closed at $254.62.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Cable One from $340.00 to $240.00 and set an "underweight" rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective 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. Finally, KeyCorp dropped their price objective 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.

Cable One Stock Performance

The company has a market cap of $1.51 billion, a P/E ratio of 6.20 and a beta of 0.93. The stock has a 50 day moving average price of $281.14 and a two-hundred day moving average price of $336.43. 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were given a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Tuesday, February 18th. Cable One's dividend payout ratio is 229.57%.

Insiders Place Their Bets

In related news, Director Wallace R. Weitz acquired 1,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $244.02 per share, for a total transaction of $244,020.00. Following the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of Cable One

Several large investors have recently modified their holdings of the stock. Burgundy Asset Management Ltd. raised its stake in Cable One by 6.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company's stock valued at $114,569,000 after purchasing an additional 19,545 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd increased its holdings in Cable One by 1.5% in the 4th quarter. Rothschild & Co Wealth Management UK Ltd now owns 294,400 shares of the company's stock valued at $106,608,000 after buying an additional 4,352 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Cable One by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 166,756 shares of the company's stock valued at $60,386,000 after buying an additional 10,211 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cable One by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 118,170 shares of the company's stock worth $41,342,000 after acquiring an additional 1,839 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Cable One by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 86,776 shares of the company's stock worth $31,423,000 after acquiring an additional 7,055 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

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.