Cable One, Inc. (NYSE:CABO) Sees Large Growth in Short Interest

Cable One, Inc. (NYSE:CABO) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 499,000 shares, a growth of 7.4% from the March 15th total of 464,500 shares. Currently, 11.4% of the company’s shares are sold short. Based on an average daily trading volume, of 88,500 shares, the days-to-cover ratio is currently 5.6 days.

Insider Buying and Selling at Cable One

In other Cable One news, insider Christopher D. Boone sold 204 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $460.00, for a total transaction of $93,840.00. Following the completion of the sale, the insider now directly owns 1,854 shares of the company’s stock, valued at $852,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Cable One

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bfsg LLC acquired a new position in Cable One during the fourth quarter valued at approximately $28,000. Spire Wealth Management acquired a new stake in shares of Cable One in the fourth quarter worth $46,000. KBC Group NV grew its stake in shares of Cable One by 987.5% in the fourth quarter. KBC Group NV now owns 87 shares of the company’s stock worth $49,000 after acquiring an additional 79 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Cable One in the fourth quarter worth $53,000. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Cable One in the first quarter worth $58,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Cable One Stock Up 1.7 %

CABO traded up $6.60 during midday trading on Wednesday, hitting $393.60. 74,257 shares of the company’s stock traded hands, compared to its average volume of 90,179. The company has a market cap of $2.21 billion, a PE ratio of 8.66 and a beta of 0.80. The stock’s fifty day simple moving average is $443.11 and its 200-day simple moving average is $520.32. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.69 and a quick ratio of 1.69. Cable One has a one year low of $373.37 and a one year high of $768.75.

Cable One (NYSE:CABO) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $10.66 earnings per share for the quarter, missing the consensus estimate of $12.86 by ($2.20). The business had revenue of $411.82 million for the quarter, compared to the consensus estimate of $417.66 million. Cable One had a net margin of 15.94% and a return on equity of 13.65%. As a group, equities analysts anticipate that Cable One will post 43.36 earnings per share for the current fiscal year.

Cable One Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Tuesday, February 20th were issued a dividend of $2.95 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $11.80 annualized dividend and a yield of 3.00%. Cable One’s dividend payout ratio (DPR) is presently 26.12%.

Analyst Ratings Changes

CABO has been the subject of a number of research analyst reports. Moffett Nathanson raised shares of Cable One from a “neutral” rating to a “buy” rating and set a $615.00 price target for the company in a research report on Tuesday, March 5th. KeyCorp reduced their price target on shares of Cable One from $900.00 to $881.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Finally, Wells Fargo & Company reduced their price target on shares of Cable One from $460.00 to $400.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $627.80.

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.