Cable One, Inc. (NYSE:CABO) Stake Boosted by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its stake in Cable One, Inc. (NYSE:CABO) by 48.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 44,166 shares of the company’s stock after buying an additional 14,377 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.79% of Cable One worth $18,769,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bfsg LLC bought a new stake in shares of Cable One during the fourth quarter valued at about $28,000. Fifth Third Bancorp grew its holdings in Cable One by 87.5% during the first quarter. Fifth Third Bancorp now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 35 shares during the period. Spire Wealth Management acquired a new position in Cable One during the fourth quarter worth about $46,000. Principal Securities Inc. acquired a new position in Cable One during the fourth quarter worth about $53,000. Finally, SRS Capital Advisors Inc. grew its holdings in Cable One by 24.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 190 shares of the company’s stock worth $106,000 after acquiring an additional 37 shares during the period. 89.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CABO has been the topic of a number of research analyst reports. TD Cowen lowered their target price on Cable One from $650.00 to $456.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Wells Fargo & Company dropped their price target on Cable One from $400.00 to $350.00 and set an “underweight” rating on the stock in a research note on Friday, May 3rd. Finally, KeyCorp dropped their price target on Cable One from $900.00 to $881.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $590.83.

Insider Activity

In related news, Director Wallace R. Weitz acquired 1,000 shares of Cable One stock in a transaction on Tuesday, May 21st. The stock was purchased at an average cost of $369.98 per share, with a total value of $369,980.00. Following the completion of the transaction, the director now directly owns 4,565 shares in the company, valued at approximately $1,688,958.70. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Cable One Trading Up 2.7 %

Shares of NYSE CABO traded up $8.86 during mid-day trading on Thursday, hitting $336.72. The company’s stock had a trading volume of 147,792 shares, compared to its average volume of 109,696. The company’s fifty day simple moving average is $367.53 and its 200-day simple moving average is $436.01. Cable One, Inc. has a one year low of $318.68 and a one year high of $749.00. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 7.50 and a beta of 0.83. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.86 and a quick ratio of 1.86.

Cable One (NYSE:CABO) last released its quarterly earnings data on Thursday, May 2nd. The company reported $8.11 earnings per share for the quarter, missing the consensus estimate of $10.78 by ($2.67). The firm had revenue of $404.30 million for the quarter, compared to the consensus estimate of $408.79 million. Cable One had a return on equity of 12.76% and a net margin of 15.50%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $9.62 EPS. On average, sell-side analysts anticipate that Cable One, Inc. will post 32.41 earnings per share for the current fiscal year.

Cable One Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were issued a $2.95 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.50%. Cable One’s dividend payout ratio (DPR) is presently 27.02%.

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.