Insider Selling: Cable One, Inc. (CABO) COO Sells $921,293.96 in Stock
Cable One, Inc. (NYSE:CABO) COO Michael E. Bowker sold 1,244 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $740.59, for a total value of $921,293.96. Following the transaction, the chief operating officer now directly owns 7,104 shares of the company’s stock, valued at approximately $5,261,151.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Cable One, Inc. (NYSE CABO) opened at 736.74 on Friday. The firm has a market cap of $4.22 billion, a P/E ratio of 39.56 and a beta of 0.31. Cable One, Inc. has a 1-year low of $551.59 and a 1-year high of $754.00. The stock has a 50 day moving average price of $738.68 and a 200 day moving average price of $688.56.
Cable One (NYSE:CABO) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $4.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.10 by ($0.13). The firm had revenue of $241.00 million for 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 business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.62 earnings per share. On average, analysts anticipate that Cable One, Inc. will post $20.60 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from Cable One’s previous quarterly dividend of $1.50. The ex-dividend date was Friday, August 11th. Cable One’s dividend payout ratio (DPR) is currently 37.57%.
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Several brokerages have commented on CABO. TheStreet raised Cable One from a “c” rating to a “b-” rating in a research note on Monday, June 12th. Raymond James Financial, Inc. began coverage on Cable One in a research note on Thursday, June 8th. They set an “outperform” rating and a $785.00 target price for the company. Zacks Investment Research raised Cable One from a “strong sell” rating to a “hold” rating in a research note on Monday, July 10th. Finally, BidaskClub downgraded Cable One from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Cable One currently has a consensus rating of “Hold” and a consensus price target of $693.75.
Several hedge funds and other institutional investors have recently made changes to their positions in CABO. BlackRock Inc. raised its holdings in shares of Cable One by 6,855.3% during the 1st 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 in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Cable One by 5,057.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 68,743 shares of the company’s stock valued at $48,869,000 after buying an additional 67,410 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Cable One by 92.3% during the 2nd quarter. Renaissance Technologies LLC now owns 137,200 shares of the company’s stock valued at $97,535,000 after buying an additional 65,847 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Cable One during the 2nd quarter valued at about $33,648,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Cable One by 138.6% during the 2nd 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 in the last quarter. 70.38% of the stock is currently owned by institutional investors.
About Cable One
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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