State Treasurer State of Michigan raised its stake in shares of Cable One Inc (NYSE:CABO) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,800 shares of the company’s stock after purchasing an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Cable One were worth $1,590,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cable One by 44.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 226 shares of the company’s stock worth $166,000 after buying an additional 70 shares in the last quarter. Sterling Capital Management LLC purchased a new position in shares of Cable One in the second quarter worth about $202,000. Palisade Asset Management LLC purchased a new position in shares of Cable One in the second quarter worth about $205,000. Levin Capital Strategies L.P. purchased a new position in shares of Cable One in the second quarter worth about $220,000. Finally, Oakbrook Investments LLC purchased a new position in shares of Cable One in the third quarter worth about $221,000. 78.57% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Katharine Weymouth sold 254 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $834.30, for a total transaction of $211,912.20. Following the completion of the sale, the director now directly owns 255 shares in the company, valued at $212,746.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.
CABO has been the topic of several research reports. Zacks Investment Research downgraded shares of Cable One from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 15th. ValuEngine downgraded shares of Cable One from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. B. Riley set a $860.00 price target on shares of Cable One and gave the stock a “buy” rating in a research note on Monday, August 13th. Finally, Raymond James downgraded shares of Cable One from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $838.00.
NYSE:CABO opened at $898.94 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $5.01 billion, a PE ratio of 41.60 and a beta of 0.29. Cable One Inc has a twelve month low of $597.40 and a twelve month high of $909.82.
Cable One (NYSE:CABO) last posted its quarterly earnings results on Thursday, August 9th. The company reported $7.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $7.97 by ($0.32). Cable One had a return on equity of 22.84% and a net margin of 24.78%. The business had revenue of $268.40 million during the quarter, compared to analysts’ expectations of $265.76 million. During the same period in the prior year, the business posted $4.97 earnings per share. The business’s quarterly revenue was up 11.4% on a year-over-year basis. On average, research analysts anticipate that Cable One Inc will post 30.86 earnings per share for the current year.
Cable One Profile
Cable One, Inc owns and operates cable systems that provide data, video, and voice services in the United States. The company offers data services, including home.cableone.net, an Internet portal that provides various email addresses; and WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home.
Read More: Marijuana Stocks Future Looks Bright
Receive News & Ratings for Cable One Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cable One and related companies with MarketBeat.com's FREE daily email newsletter.