Cable One (NYSE:CABO) Shares Pass Below 50-Day Moving Average – Time to Sell?

Cable One, Inc. (NYSE:CABO) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $387.63 and traded as low as $352.29. Cable One shares last traded at $360.98, with a volume of 125,553 shares changing hands.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut their target price on Cable One from $480.00 to $470.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $554.40.

Cable One Stock Performance

The firm’s 50 day simple moving average is $387.63 and its 200 day simple moving average is $365.65. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 8.35 and a beta of 0.89. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.93 and a current ratio of 0.93.

Cable One Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 3rd were issued a $2.95 dividend. This represents a $11.80 annualized dividend and a yield of 3.27%. The ex-dividend date was Tuesday, December 3rd. Cable One’s payout ratio is 27.29%.

Hedge Funds Weigh In On Cable One

Institutional investors have recently modified their holdings of the stock. Burgundy Asset Management Ltd. boosted its stake in shares of Cable One by 42.4% in the second quarter. Burgundy Asset Management Ltd. now owns 290,662 shares of the company’s stock worth $102,894,000 after buying an additional 86,581 shares during the last quarter. AQR Capital Management LLC boosted its position in Cable One by 4,228.5% in the 2nd quarter. AQR Capital Management LLC now owns 61,465 shares of the company’s stock worth $21,436,000 after purchasing an additional 60,045 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Cable One by 28.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 205,611 shares of the company’s stock worth $72,786,000 after purchasing an additional 45,115 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of Cable One during the 2nd quarter worth approximately $3,554,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Cable One by 83.9% during the 2nd quarter. Victory Capital Management Inc. now owns 19,593 shares of the company’s stock valued at $6,936,000 after purchasing an additional 8,940 shares in the last quarter. Hedge funds and other institutional investors 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.