Cable One (NYSE:CABO) Sees Unusually-High Trading Volume – Here’s What Happened

Cable One, Inc. (NYSE:CABO) shares saw unusually-high trading volume on Monday . Approximately 208,521 shares were traded during mid-day trading, an increase of 87% from the previous session’s volume of 111,446 shares.The stock last traded at $256.61 and had previously closed at $256.05.

Analyst Ratings Changes

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

Cable One Stock Up 3.3 %

The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 6.28 and a beta of 0.93. The firm’s 50 day moving average is $284.67 and its two-hundred day moving average is $337.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.84.

Cable One Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were given a dividend of $2.95 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $11.80 dividend on an annualized basis and a yield of 4.32%. Cable One’s dividend payout ratio (DPR) is currently 229.57%.

Insider Buying and Selling at Cable One

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

Hedge Funds Weigh In On Cable One

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its holdings in Cable One by 20.4% in the third quarter. Public Employees Retirement System of Ohio now owns 171 shares of the company’s stock valued at $60,000 after buying an additional 29 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of Cable One by 6.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 590 shares of the company’s stock valued at $214,000 after purchasing an additional 37 shares during the period. Sanctuary Advisors LLC lifted its holdings in Cable One by 3.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,445 shares of the company’s stock worth $505,000 after buying an additional 43 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Cable One by 15.5% in the fourth quarter. Global Retirement Partners LLC now owns 343 shares of the company’s stock worth $124,000 after acquiring an additional 46 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Cable One by 2.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 2,690 shares of the company’s stock worth $974,000 after purchasing an additional 61 shares during the last quarter. 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.