Cable One (NYSE:CABO) Shares Gap Down – Here’s Why

Cable One, Inc. (NYSE:CABO) gapped down prior to trading on Friday . The stock had previously closed at $118.87, but opened at $112.74. Cable One shares last traded at $110.6450, with a volume of 1,171 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on CABO. Weiss Ratings reissued a “sell (d-)” rating on shares of Cable One in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on shares of Cable One from $175.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Zacks Research cut shares of Cable One from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 25th. Finally, Wells Fargo & Company cut their price target on shares of Cable One from $120.00 to $107.00 and set an “underweight” rating for the company in a report on Friday, November 7th. Five investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Cable One currently has a consensus rating of “Reduce” and an average target price of $256.75.

Cable One Stock Down 7.1%

The company has a market capitalization of $591.04 million, a P/E ratio of -1.29 and a beta of 0.76. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 1.88. The stock has a 50 day moving average price of $124.20 and a 200 day moving average price of $141.75.

Cable One (NYSE:CABO) last issued its earnings results on Thursday, November 6th. The company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.25 by ($4.08). Cable One had a positive return on equity of 7.96% and a negative net margin of 29.78%.The firm had revenue of $376.01 million during the quarter, compared to analyst estimates of $378.96 million. On average, research analysts anticipate that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cable One

A number of hedge funds have recently made changes to their positions in CABO. Tudor Investment Corp ET AL acquired a new stake in Cable One during the 3rd quarter valued at approximately $225,000. Goldentree Asset Management LP acquired a new stake in Cable One during the 3rd quarter worth about $13,033,000. Palisade Asset Management LLC bought a new position in shares of Cable One in the 3rd quarter worth about $76,000. Connective Capital Management LLC acquired a new stake in Cable One during the third quarter worth approximately $380,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Cable One by 7.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 5,599 shares of the company’s stock worth $945,000 after purchasing an additional 410 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Cable One Company Profile

Cable One, Inc (NYSE:CABO) is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One’s infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.