Clarkston Capital Partners LLC Reduces Stock Holdings in Cable One, Inc. (NYSE:CABO)

Clarkston Capital Partners LLC reduced its position in shares of Cable One, Inc. (NYSE:CABO) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 266,258 shares of the company’s stock after selling 8,629 shares during the quarter. Cable One accounts for approximately 1.8% of Clarkston Capital Partners LLC’s holdings, making the stock its 18th biggest position. Clarkston Capital Partners LLC owned about 4.74% of Cable One worth $96,417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CABO. Raymond James Financial Inc. purchased a new position in Cable One during the fourth quarter valued at $28,129,000. Norges Bank purchased a new position in shares of Cable One during the 4th quarter valued at about $11,993,000. Proficio Capital Partners LLC purchased a new position in shares of Cable One during the 4th quarter valued at about $10,491,000. Point72 Asset Management L.P. increased its holdings in Cable One by 476.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 9,000 shares of the company’s stock worth $3,148,000 after acquiring an additional 7,440 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Cable One by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 86,776 shares of the company’s stock valued at $31,423,000 after buying an additional 7,055 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Cable One

In other Cable One news, Director Wallace R. Weitz bought 1,000 shares of Cable One stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $244.02 per share, for a total transaction of $244,020.00. Following the acquisition, the director now directly owns 5,584 shares in the company, valued at approximately $1,362,607.68. This represents a 21.82 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Cable One Stock Down 4.7 %

CABO opened at $254.65 on Friday. The company has a market capitalization of $1.43 billion, a PE ratio of 5.89 and a beta of 0.93. The firm has a 50-day simple moving average of $274.75 and a two-hundred day simple moving average of $334.19. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.84. Cable One, Inc. has a 52 week low of $225.94 and a 52 week high of $437.00.

Cable One Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were paid a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Tuesday, February 18th. Cable One’s payout ratio is presently 229.57%.

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.