Cable One (NYSE:CABO) Shares Gap Up to $393.60

Cable One, Inc. (NYSE:CABO)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $393.60, but opened at $406.97. Cable One shares last traded at $409.14, with a volume of 13,819 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CABO shares. Wells Fargo & Company decreased their price objective on shares of Cable One from $460.00 to $400.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Moffett Nathanson upgraded shares of Cable One from a “neutral” rating to a “buy” rating and set a $615.00 price target for the company in a report on Tuesday, March 5th. Finally, KeyCorp decreased their price target on shares of Cable One from $900.00 to $881.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $627.80.

Cable One Price Performance

The company has a debt-to-equity ratio of 1.94, a current ratio of 1.69 and a quick ratio of 1.69. The stock’s fifty day simple moving average is $441.17 and its 200-day simple moving average is $519.44. The company has a market capitalization of $2.32 billion, a P/E ratio of 8.71 and a beta of 0.80.

Cable One (NYSE:CABO) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $10.66 EPS for the quarter, missing analysts’ consensus estimates of $12.86 by ($2.20). The company had revenue of $411.82 million for the quarter, compared to analyst estimates of $417.66 million. Cable One had a net margin of 15.94% and a return on equity of 13.65%. On average, equities analysts forecast that Cable One, Inc. will post 43.36 earnings per share for the current fiscal year.

Cable One Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Tuesday, February 20th were given a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, February 16th. Cable One’s dividend payout ratio is currently 26.12%.

Insider Activity

In other news, insider Christopher D. Boone sold 204 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $460.00, for a total transaction of $93,840.00. Following the completion of the transaction, the insider now owns 1,854 shares of the company’s stock, valued at $852,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Cable One by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 441,665 shares of the company’s stock worth $245,826,000 after purchasing an additional 2,681 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd raised its position in Cable One by 1.7% in the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 279,010 shares of the company’s stock worth $171,770,000 after purchasing an additional 4,689 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Cable One by 11.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 268,504 shares of the company’s stock worth $149,447,000 after purchasing an additional 27,635 shares in the last quarter. Capital International Investors raised its position in Cable One by 74.9% in the first quarter. Capital International Investors now owns 204,285 shares of the company’s stock worth $300,489,000 after purchasing an additional 87,503 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its position in Cable One by 4.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 161,705 shares of the company’s stock worth $90,003,000 after purchasing an additional 6,608 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

About Cable One

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.