Bank of New York Mellon Corp Sells 20,664 Shares of Cable One, Inc. (NYSE:CABO)

Bank of New York Mellon Corp reduced its stake in Cable One, Inc. (NYSE:CABO) by 28.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,349 shares of the company’s stock after selling 20,664 shares during the period. Bank of New York Mellon Corp owned 0.93% of Cable One worth $13,913,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. lifted its stake in shares of Cable One by 201.8% during the 4th quarter. Federated Hermes Inc. now owns 166 shares of the company’s stock worth $60,000 after purchasing an additional 111 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Cable One by 1,435.7% during the first quarter. Farther Finance Advisors LLC now owns 215 shares of the company’s stock worth $58,000 after purchasing an additional 201 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Cable One by 21.3% during the 1st quarter. Spire Wealth Management now owns 382 shares of the company’s stock valued at $102,000 after purchasing an additional 67 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Cable One by 18.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 418 shares of the company’s stock valued at $151,000 after purchasing an additional 65 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of Cable One by 6.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 590 shares of the company’s stock worth $214,000 after purchasing an additional 37 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Cable One Stock Up 3.9%

Shares of CABO opened at $128.73 on Friday. Cable One, Inc. has a one year low of $117.54 and a one year high of $437.00. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average price of $139.47 and a 200 day moving average price of $229.30. The stock has a market capitalization of $724.75 million, a price-to-earnings ratio of -51.29 and a beta of 0.81.

Cable One (NYSE:CABO) last released its quarterly earnings data on Thursday, May 1st. The company reported $12.32 earnings per share for the quarter, topping analysts’ consensus estimates of $12.21 by $0.11. The company had revenue of $380.60 million for the quarter, compared to analyst estimates of $386.61 million. Cable One had a positive return on equity of 9.38% and a negative net margin of 0.69%. Equities research analysts forecast that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Cable One

In related news, Director Wallace R. Weitz bought 7,000 shares of the stock in a transaction on Friday, June 13th. The stock was bought at an average price of $132.53 per share, with a total value of $927,710.00. Following the completion of the purchase, the director directly owned 17,140 shares in the company, valued at $2,271,564.20. This represents a 69.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary E. Meduski bought 250 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $148.00 per share, for a total transaction of $37,000.00. Following the transaction, the director owned 3,599 shares of the company’s stock, valued at $532,652. This trade represents a 7.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 7,400 shares of company stock worth $984,342. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

CABO has been the subject of several research analyst reports. KeyCorp restated a “sector weight” rating on shares of Cable One in a research note on Friday, May 2nd. Raymond James Financial cut shares of Cable One from an “outperform” rating to a “market perform” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Cable One from $325.00 to $222.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. BNP Paribas raised Cable One from a “strong sell” rating to a “hold” rating in a research report on Monday, June 16th. Finally, BNP Paribas Exane upgraded Cable One from an “underperform” rating to a “neutral” rating and set a $125.00 price objective for the company in a research note on Monday, June 16th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $309.25.

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.