Westwood Holdings Group Inc. Decreases Holdings in Cable One, Inc. (CABO)
Westwood Holdings Group Inc. cut its stake in Cable One, Inc. (NYSE:CABO) by 14.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,552 shares of the company’s stock after selling 14,605 shares during the quarter. Westwood Holdings Group Inc. owned about 1.56% of Cable One worth $63,757,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Cable One by 28.3% in the 2nd quarter. Victory Capital Management Inc. now owns 163 shares of the company’s stock worth $116,000 after purchasing an additional 36 shares in the last quarter. Quantbot Technologies LP bought a new position in Cable One in the 1st quarter worth $115,000. US Bancorp DE raised its holdings in Cable One by 16.2% in the 1st quarter. US Bancorp DE now owns 230 shares of the company’s stock worth $144,000 after purchasing an additional 32 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in Cable One in the 2nd quarter worth $209,000. Finally, Stonebridge Capital Management Inc. bought a new position in Cable One in the 2nd quarter worth $213,000. Institutional investors and hedge funds own 70.34% of the company’s stock.
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In other Cable One news, major shareholder Donald Graham acquired 24,561 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $742.52 per share, with a total value of $18,237,033.72. Following the completion of the purchase, the insider now directly owns 271,546 shares in the company, valued at $201,628,335.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael E. Bowker sold 1,244 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $740.59, for a total transaction of $921,293.96. Following the completion of the sale, the chief operating officer now directly owns 7,104 shares of the company’s stock, valued at $5,261,151.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,561 shares of company stock valued at $1,893,119. 1.30% of the stock is owned by insiders.
Shares of Cable One, Inc. (NYSE CABO) traded up 0.65% on Wednesday, hitting $754.00. 18,752 shares of the company traded hands. The firm has a market capitalization of $4.32 billion, a P/E ratio of 40.47 and a beta of 0.27. Cable One, Inc. has a 1-year low of $559.83 and a 1-year high of $788.00. The firm’s 50-day moving average is $730.94 and its 200 day moving average is $730.94.
Cable One (NYSE:CABO) last released 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). Cable One had a return on equity of 22.83% and a net margin of 12.44%. The business had revenue of $241.00 million during the quarter, compared to analysts’ expectations of $247.02 million. During the same period last year, the company earned $4.62 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Cable One, Inc. will post $20.60 earnings per share for the current fiscal year.
CABO has been the subject of several research reports. Zacks Investment Research lowered shares of Cable One from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 4th. Raymond James Financial, Inc. upped their price objective on shares of Cable One from $785.00 to $815.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, BidaskClub lowered shares of Cable One from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $693.75.
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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