Martingale Asset Management L P Has $25.87 Million Holdings in Cable One, Inc. (CABO)
Martingale Asset Management L P reduced its position in Cable One, Inc. (NYSE:CABO) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,381 shares of the company’s stock after selling 891 shares during the quarter. Martingale Asset Management L P owned about 0.64% of Cable One worth $25,865,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CABO. Teachers Advisors LLC grew its holdings in Cable One by 7.1% in the fourth quarter. Teachers Advisors LLC now owns 4,374 shares of the company’s stock worth $2,719,000 after purchasing an additional 289 shares during the last quarter. Capstone Asset Management Co. grew its holdings in Cable One by 3.1% in the first quarter. Capstone Asset Management Co. now owns 573 shares of the company’s stock worth $358,000 after purchasing an additional 17 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Cable One by 0.7% in the first quarter. Nationwide Fund Advisors now owns 7,831 shares of the company’s stock worth $4,890,000 after purchasing an additional 51 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Cable One by 45.2% in the first quarter. Russell Investments Group Ltd. now owns 4,383 shares of the company’s stock worth $2,737,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Cable One by 4.9% in the first quarter. Great West Life Assurance Co. Can now owns 2,833 shares of the company’s stock worth $1,767,000 after purchasing an additional 132 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.
CABO has been the topic of several analyst reports. Zacks Investment Research raised shares of Cable One from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. TheStreet raised shares of Cable One from a “c” rating to a “b-” rating in a report on Monday, June 12th. Raymond James Financial, Inc. started coverage on shares of Cable One in a report on Thursday, June 8th. They issued an “outperform” rating and a $785.00 price target on the stock. Finally, BidaskClub upgraded shares of Cable One from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cable One has an average rating of “Buy” and an average target price of $693.75.
In other Cable One news, CFO Kevin P. Coyle sold 450 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $740.91, for a total transaction of $333,409.50. Following the transaction, the chief financial officer now directly owns 4,440 shares of the company’s stock, valued at approximately $3,289,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Donald Graham acquired 24,561 shares of the stock in a transaction on Monday, July 24th. The shares were acquired at an average cost of $742.52 per share, for a total transaction of $18,237,033.72. Following the completion of the transaction, the insider now directly owns 271,546 shares in the company, valued at approximately $201,628,335.92. The disclosure for this purchase can be found here. Insiders sold a total of 9,039 shares of company stock worth $6,510,090 over the last ninety days. Insiders own 1.30% of the company’s stock.
Cable One, Inc. (NYSE CABO) traded up 0.67% during midday trading on Friday, hitting $744.09. 31,040 shares of the stock traded hands. Cable One, Inc. has a one year low of $538.00 and a one year high of $788.00. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 39.96 and a beta of 0.31. The company has a 50-day moving average price of $747.36 and a 200 day moving average price of $694.92.
Cable One (NYSE:CABO) last posted its earnings results on Tuesday, August 8th. The company reported $4.97 EPS for the quarter, missing the Zacks’ consensus estimate of $5.10 by $0.13. The company had revenue of $241 million during the quarter, compared to analysts’ expectations of $247.02 million. Cable One had a net margin of 12.44% and a return on equity of 22.83%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the business earned $4.62 earnings per share. Equities research analysts anticipate that Cable One, Inc. will post $20.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 0.94%. This is an increase from Cable One’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Friday, August 11th. Cable One’s dividend payout ratio (DPR) is 37.57%.
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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