Cable One (NYSE:CABO) Shares Gap Up on Insider Buying Activity

Cable One, Inc. (NYSE:CABO) shares gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $131.81, but opened at $137.94. Cable One shares last traded at $133.46, with a volume of 16,002 shares.

Specifically, Director Wallace R. Weitz bought 7,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average cost of $132.53 per share, for a total transaction of $927,710.00. Following the transaction, the director now directly owns 17,140 shares in the company, valued at $2,271,564.20. The trade was a 69.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary E. Meduski purchased 250 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average cost of $148.00 per share, with a total value of $37,000.00. Following the purchase, the director now owns 3,599 shares of the company’s stock, valued at approximately $532,652. This represents a 7.46% increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

A number of analysts have commented on CABO shares. Raymond James downgraded shares of Cable One from an “outperform” rating to a “market perform” rating in a research report on Friday, May 2nd. BNP Paribas Exane raised Cable One from an “underperform” rating to a “neutral” rating and set a $125.00 price objective on the stock in a research note on Monday. JPMorgan Chase & Co. lowered their target price on Cable One from $325.00 to $222.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. KeyCorp reissued a “sector weight” rating on shares of Cable One in a report on Friday, May 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $309.25.

Cable One Stock Performance

The firm’s fifty day simple moving average is $194.05 and its 200 day simple moving average is $272.42. The company has a market capitalization of $747.43 million, a price-to-earnings ratio of 3.07 and a beta of 0.82. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93.

Cable One (NYSE:CABO) last issued its quarterly earnings results on Thursday, May 1st. The company reported $12.32 earnings per share for the quarter, beating analysts’ consensus estimates of $12.21 by $0.11. Cable One had a return on equity of 10.98% and a net margin of 15.86%. The business had revenue of $380.60 million for the quarter, compared to the consensus estimate of $386.61 million. On average, sell-side analysts forecast that Cable One, Inc. will post 32.08 EPS for the current year.

Institutional Trading of Cable One

A number of institutional investors have recently added to or reduced their stakes in CABO. Meeder Asset Management Inc. bought a new position in shares of Cable One during the 1st quarter valued at $30,000. Brooklyn Investment Group increased its position in Cable One by 5,233.3% during the first quarter. Brooklyn Investment Group now owns 160 shares of the company’s stock worth $43,000 after buying an additional 157 shares during the last quarter. AlphaQuest LLC bought a new position in Cable One during the fourth quarter valued at about $49,000. Farther Finance Advisors LLC raised its holdings in Cable One by 1,435.7% during the first quarter. Farther Finance Advisors LLC now owns 215 shares of the company’s stock valued at $58,000 after buying an additional 201 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Cable One by 201.8% in the fourth quarter. Federated Hermes Inc. now owns 166 shares of the company’s stock worth $60,000 after buying an additional 111 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

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.