Cable One (NYSE:CABO) Shares Pass Below 50 Day Moving Average – Here’s Why

Cable One, Inc. (NYSE:CABO) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $387.63 and traded as low as $352.29. Cable One shares last traded at $360.98, with a volume of 125,553 shares traded.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price objective on shares of Cable One from $480.00 to $470.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $554.40.

Cable One Stock Performance

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $2.03 billion, a PE ratio of 8.35 and a beta of 0.89. The firm’s 50-day simple moving average is $387.63 and its 200-day simple moving average is $365.65.

Cable One Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $2.95 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $11.80 annualized dividend and a yield of 3.27%. Cable One’s payout ratio is currently 27.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CABO. Burgundy Asset Management Ltd. lifted its position in shares of Cable One by 42.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 290,662 shares of the company’s stock worth $102,894,000 after purchasing an additional 86,581 shares during the period. AQR Capital Management LLC lifted its holdings in Cable One by 4,228.5% during the second quarter. AQR Capital Management LLC now owns 61,465 shares of the company’s stock worth $21,436,000 after buying an additional 60,045 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Cable One by 28.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 205,611 shares of the company’s stock worth $72,786,000 after buying an additional 45,115 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Cable One during the second quarter worth $3,554,000. Finally, Victory Capital Management Inc. raised its stake in Cable One by 83.9% in the second quarter. Victory Capital Management Inc. now owns 19,593 shares of the company’s stock valued at $6,936,000 after buying an additional 8,940 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Cable One Company Profile

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.