Cable One (NYSE:CABO) Sets New 12-Month Low – Should You Sell?

Cable One, Inc. (NYSE:CABO)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $233.82 and last traded at $236.30, with a volume of 123618 shares traded. The stock had previously closed at $274.73.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CABO. KeyCorp dropped their price target on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. 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 note on Monday, March 3rd. Finally, Wells Fargo & Company dropped their price target on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th.

Cable One Trading Down 3.8 %

The stock has a 50-day simple moving average of $301.39 and a two-hundred day simple moving average of $343.84. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $1.28 billion, a PE ratio of 5.26 and a beta of 0.93.

Cable One Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were given a $2.95 dividend. This represents a $11.80 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Tuesday, February 18th. Cable One’s dividend payout ratio (DPR) is 229.57%.

Insiders Place Their Bets

In other Cable One news, Director Wallace R. Weitz purchased 1,000 shares of Cable One stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $244.02 per share, with a total value of $244,020.00. Following the transaction, the director now directly owns 5,584 shares of the company’s stock, valued at $1,362,607.68. This trade represents a 21.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Cable One

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Cable One during the 4th quarter valued at approximately $28,129,000. Norges Bank bought a new position in shares of Cable One during the 4th quarter valued at approximately $11,993,000. Proficio Capital Partners LLC bought a new position in shares of Cable One during the 4th quarter valued at approximately $10,491,000. Burgundy Asset Management Ltd. grew its stake in shares of Cable One by 6.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company’s stock valued at $114,569,000 after acquiring an additional 19,545 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Cable One by 18.7% during the 4th quarter. Northern Trust Corp now owns 66,507 shares of the company’s stock valued at $24,084,000 after acquiring an additional 10,493 shares during the period. Hedge funds and other 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.