Cable One (NYSE:CABO) Shares Up 4.4% – Here’s What Happened

Shares of Cable One, Inc. (NYSE:CABO) shot up 4.4% on Tuesday . The company traded as high as $263.43 and last traded at $265.78. 37,803 shares were traded during trading, a decline of 66% from the average session volume of 111,843 shares. The stock had previously closed at $254.62.

Analyst Upgrades and Downgrades

CABO has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. KeyCorp decreased their target price on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd.

Cable One Stock Up 0.1 %

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $1.54 billion, a PE ratio of 6.33 and a beta of 0.93. The stock has a 50-day simple moving average of $283.52 and a 200-day simple moving average of $337.31.

Cable One Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were paid a $2.95 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $11.80 dividend on an annualized basis and a yield of 4.31%. Cable One’s dividend payout ratio is 229.57%.

Insider Transactions at Cable One

In related news, Director Wallace R. Weitz bought 1,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $244.02 per share, with a total value of $244,020.00. Following the purchase, the director now owns 5,584 shares in the company, valued at approximately $1,362,607.68. The trade was a 21.82 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Cable One

A number of large investors have recently bought and sold shares of the stock. AlphaQuest LLC bought a new stake in Cable One during the 4th quarter valued at $49,000. Sound Income Strategies LLC bought a new position in shares of Cable One during the fourth quarter valued at about $50,000. Federated Hermes Inc. raised its stake in shares of Cable One by 201.8% during the fourth quarter. Federated Hermes Inc. now owns 166 shares of the company’s stock valued at $60,000 after acquiring an additional 111 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Cable One by 20.4% during the third quarter. Public Employees Retirement System of Ohio now owns 171 shares of the company’s stock worth $60,000 after purchasing an additional 29 shares during the period. Finally, KBC Group NV increased its holdings in Cable One by 45.0% during the 4th quarter. KBC Group NV now owns 232 shares of the company’s stock valued at $84,000 after purchasing an additional 72 shares during the period. 89.92% of the stock is owned by hedge funds and other 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.