First Trust Advisors LP Sells 2,755 Shares of Cable One, Inc. (CABO)
First Trust Advisors LP reduced its stake in shares of Cable One, Inc. (NYSE:CABO) by 26.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,505 shares of the company’s stock after selling 2,755 shares during the period. First Trust Advisors LP owned about 0.13% of Cable One worth $5,335,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in Cable One by 6,855.3% in the first quarter. BlackRock Inc. now owns 439,785 shares of the company’s stock valued at $274,634,000 after buying an additional 433,462 shares during the last quarter. Renaissance Technologies LLC boosted its position in Cable One by 185.4% in the first quarter. Renaissance Technologies LLC now owns 71,353 shares of the company’s stock valued at $44,558,000 after buying an additional 46,353 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Cable One by 138.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 60,645 shares of the company’s stock valued at $43,112,000 after buying an additional 35,230 shares during the last quarter. Vanguard Group Inc. boosted its position in Cable One by 6.0% in the first quarter. Vanguard Group Inc. now owns 375,043 shares of the company’s stock valued at $234,203,000 after buying an additional 21,111 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Cable One by 21.9% in the first quarter. JPMorgan Chase & Co. now owns 41,121 shares of the company’s stock valued at $25,679,000 after buying an additional 7,390 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.
Cable One, Inc. (CABO) opened at 758.74 on Friday. The firm has a market cap of $4.34 billion, a PE ratio of 40.74 and a beta of 0.30. The firm’s 50-day moving average price is $745.25 and its 200 day moving average price is $690.95. Cable One, Inc. has a 52-week low of $527.75 and a 52-week high of $788.00.
Cable One (NYSE:CABO) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.10 by $0.13. Cable One had a net margin of 12.44% and a return on equity of 22.83%. The firm had revenue of $241 million during the quarter, compared to analyst estimates of $247.02 million. During the same quarter in the previous year, the business posted $4.62 EPS. Cable One’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities analysts anticipate that Cable One, Inc. will post $20.60 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $7.00 annualized dividend and a dividend yield of 0.92%. This is a positive change from Cable One’s previous quarterly dividend of $1.50. Cable One’s dividend payout ratio (DPR) is presently 37.57%.
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Several research firms have issued reports on CABO. BidaskClub upgraded Cable One from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut Cable One from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Raymond James Financial, Inc. boosted their target price on Cable One from $785.00 to $815.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, TheStreet upgraded Cable One from a “c” rating to a “b-” rating in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $693.75.
In other Cable One news, SVP Eric Michael Lardy sold 322 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $725.00, for a total value of $233,450.00. Following the sale, the senior vice president now owns 2,542 shares in the company, valued at $1,842,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Donald Graham sold 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $716.05, for a total transaction of $2,935,805.00. Following the transaction, the insider now owns 246,985 shares in the company, valued at approximately $176,853,609.25. The disclosure for this sale can be found here. Insiders sold 9,889 shares of company stock worth $7,122,222 in the last 90 days. 1.30% of the stock is owned by company insiders.
Cable One Company Profile
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
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