Cable One (NYSE:CABO) Trading 4.4% Higher – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Cable One Stock Up 0.1 %

The stock has a 50 day moving average price of $283.52 and a 200 day moving average price of $337.31. 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 stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 6.33 and a beta of 0.93.

Cable One Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 4.31%. The ex-dividend date was Tuesday, February 18th. Cable One’s dividend payout ratio (DPR) is currently 229.57%.

Insider Activity

In related news, Director Wallace R. Weitz acquired 1,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $244.02 per share, for a total transaction of $244,020.00. Following the completion of the transaction, the director now directly owns 5,584 shares of the company’s stock, valued at $1,362,607.68. The trade was a 21.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company’s stock.

Institutional Trading of Cable One

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CABO. Raymond James Financial Inc. bought a new stake in shares of Cable One in the 4th quarter valued at $28,129,000. Norges Bank bought a new stake in Cable One during the fourth quarter valued at $11,993,000. Proficio Capital Partners LLC bought a new stake in Cable One during the fourth quarter valued at $10,491,000. Burgundy Asset Management Ltd. raised its position in shares of Cable One by 6.6% in the 4th quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company’s stock worth $114,569,000 after acquiring an additional 19,545 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Cable One by 18.7% in the 4th quarter. Northern Trust Corp now owns 66,507 shares of the company’s stock valued at $24,084,000 after purchasing an additional 10,493 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

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.