Cable One (NYSE:CABO) Sees Large Volume Increase – Here’s What Happened

Shares of Cable One, Inc. (NYSE:CABO) saw unusually-high trading volume on Monday . Approximately 208,521 shares traded hands during 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.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CABO. JPMorgan Chase & Co. reduced their price objective on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company reduced their price target 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. Finally, KeyCorp cut their price objective 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.

Cable One Trading Down 0.3 %

The stock’s fifty day moving average is $287.49 and its 200 day moving average is $339.01. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $1.44 billion, a P/E ratio of 5.91 and a beta of 0.93.

Cable One Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were given a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Tuesday, February 18th. Cable One’s dividend payout ratio (DPR) is 229.57%.

Insider Activity

In other news, Director Wallace R. Weitz purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $244.02 per share, for a total transaction of $244,020.00. Following the acquisition, the director now owns 5,584 shares of the company’s stock, valued at approximately $1,362,607.68. This trade represents a 21.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Cable One

Several hedge funds and other institutional investors have recently modified their holdings of CABO. Burgundy Asset Management Ltd. grew its holdings in shares of Cable One by 6.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company’s stock worth $114,569,000 after purchasing an additional 19,545 shares during the last quarter. Rothschild & Co Wealth Management UK Ltd boosted its stake in Cable One by 1.5% in the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 294,400 shares of the company’s stock valued at $106,608,000 after acquiring an additional 4,352 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cable One by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 166,756 shares of the company’s stock worth $60,386,000 after buying an additional 10,211 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cable One by 1.6% during the third quarter. Geode Capital Management LLC now owns 118,170 shares of the company’s stock worth $41,342,000 after acquiring an additional 1,839 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Cable One by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 86,776 shares of the company’s stock worth $31,423,000 after acquiring an additional 7,055 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other 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.