Raymond James & Associates Sells 30,409 Shares of Cable One, Inc. (NYSE:CABO)

Raymond James & Associates trimmed its position in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 47.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,329 shares of the company's stock after selling 30,409 shares during the period. Raymond James & Associates owned about 0.61% of Cable One worth $12,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CABO. Versant Capital Management Inc raised its stake in shares of Cable One by 452.4% during the second quarter. Versant Capital Management Inc now owns 116 shares of the company's stock valued at $41,000 after acquiring an additional 95 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Cable One during the second quarter valued at about $45,000. GAMMA Investing LLC increased its position in shares of Cable One by 964.3% during the second quarter. GAMMA Investing LLC now owns 149 shares of the company's stock valued at $53,000 after buying an additional 135 shares during the period. Innealta Capital LLC purchased a new position in shares of Cable One during the second quarter valued at about $65,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cable One during the second quarter valued at about $72,000. 89.92% of the stock is owned by institutional investors.

Cable One Stock Down 1.8 %

CABO traded down $6.25 during midday trading on Tuesday, reaching $338.06. The company's stock had a trading volume of 62,717 shares, compared to its average volume of 103,393. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 7.74 and a beta of 0.84. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.87. Cable One, Inc. has a 1 year low of $311.28 and a 1 year high of $618.44. The stock's 50-day moving average is $344.33 and its 200-day moving average is $363.47.

Cable One (NYSE:CABO - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $8.16 earnings per share for the quarter, missing analysts' consensus estimates of $10.36 by ($2.20). The business had revenue of $394.46 million during the quarter, compared to analysts' expectations of $400.64 million. Cable One had a return on equity of 12.04% and a net margin of 15.31%. Cable One's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $10.43 EPS. As a group, research analysts expect that Cable One, Inc. will post 30.99 EPS for the current year.

Cable One Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Tuesday, August 27th. Cable One's payout ratio is 27.02%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price target on shares of Cable One from $470.00 to $480.00 and gave the company a "neutral" rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Cable One currently has a consensus rating of "Hold" and a consensus target price of $533.33.

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.