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

Cable One, Inc. (NYSE:CABO) gapped up before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CABO. Wells Fargo & Company reduced their price target on shares of Cable One from $460.00 to $400.00 and set an “underweight” rating on the stock in a research 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 on the stock in a research report on Tuesday, March 5th. Finally, KeyCorp reduced their price target on shares of Cable One from $900.00 to $881.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Cable One has an average rating of “Hold” and an average target price of $627.80.

Cable One Trading Down 0.9 %

The firm has a market cap of $2.22 billion, a PE ratio of 8.74 and a beta of 0.80. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.94. The stock’s fifty day simple moving average is $437.34 and its two-hundred day simple moving average is $517.16.

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

Cable One Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Tuesday, February 20th were issued a $2.95 dividend. This represents a $11.80 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Friday, February 16th. Cable One’s dividend payout ratio (DPR) is presently 26.12%.

Insiders Place Their Bets

In other news, insider Christopher D. Boone sold 204 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $460.00, for a total value of $93,840.00. Following the transaction, the insider now owns 1,854 shares in the company, valued at $852,840. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bfsg LLC bought a new position in Cable One during the fourth quarter valued at approximately $28,000. Spire Wealth Management bought a new position in Cable One during the fourth quarter valued at approximately $46,000. KBC Group NV lifted its position in Cable One by 987.5% during the fourth quarter. KBC Group NV now owns 87 shares of the company’s stock valued at $49,000 after purchasing an additional 79 shares during the period. Principal Securities Inc. bought a new position in Cable One during the fourth quarter valued at approximately $53,000. Finally, 1832 Asset Management L.P. bought a new position in Cable One during the first quarter valued at approximately $58,000. Institutional investors 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.