Cable One (NYSE:CABO) Sees Large Volume Increase – What’s Next?

Cable One, Inc. (NYSE:CABO) shares saw unusually-strong trading volume on Monday . Approximately 208,521 shares traded hands 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 analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. KeyCorp dropped their price objective on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered their target price on Cable One from $420.00 to $325.00 and set a “neutral” rating for the company in a report on Monday, March 3rd.

Cable One Stock Up 3.3 %

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.84. The firm’s 50-day moving average price is $284.67 and its 200 day moving average price is $337.76. The firm has a market cap of $1.54 billion, a P/E ratio of 6.28 and a beta of 0.93.

Cable One Dividend Announcement

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

Insider Buying and Selling at Cable One

In other Cable One news, Director Wallace R. Weitz purchased 1,000 shares of the firm’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 completion of the purchase, the director now owns 5,584 shares in the company, valued at $1,362,607.68. This trade represents a 21.82 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Institutional Trading of Cable One

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC acquired a new position in shares of Cable One during the fourth quarter valued at approximately $49,000. Sound Income Strategies LLC acquired a new position in shares of Cable One during the 4th quarter valued at $50,000. Federated Hermes Inc. raised its stake in shares of Cable One by 201.8% in the 4th quarter. Federated Hermes Inc. now owns 166 shares of the company’s stock worth $60,000 after buying an additional 111 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of 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. Finally, KBC Group NV boosted its stake in Cable One by 45.0% during the fourth quarter. KBC Group NV now owns 232 shares of the company’s stock valued at $84,000 after buying an additional 72 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

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.