Cable One (NYSE:CABO) Shares Down 5.1% – Should You Sell?

Cable One, Inc. (NYSE:CABO) shares were down 5.1% during trading on Wednesday . The company traded as low as $268.12 and last traded at $264.36. Approximately 4,694 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 107,499 shares. The stock had previously closed at $278.69.

Analysts Set New Price Targets

CABO has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, KeyCorp reduced their target price on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating on the stock in a report on Friday, February 28th.

Cable One Price Performance

The business’s 50-day moving average price is $305.74 and its 200 day moving average price is $345.09. 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 company has a market capitalization of $1.55 billion, a P/E ratio of 6.34 and a beta of 0.93.

Cable One Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were paid a $2.95 dividend. This represents a $11.80 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Tuesday, February 18th. Cable One’s dividend payout ratio is presently 229.57%.

Insider Activity

In other Cable One news, Director Wallace R. Weitz purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $244.02 per share, for a total transaction of $244,020.00. Following the completion of the transaction, the director now owns 5,584 shares of the company’s stock, valued at approximately $1,362,607.68. The trade was a 21.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Cable One

Institutional investors have recently made changes to their positions in the company. AlphaQuest LLC purchased a new position in shares of Cable One in the 4th quarter worth approximately $49,000. Sound Income Strategies LLC purchased a new position in Cable One during the fourth quarter valued at $50,000. KBC Group NV raised its position in shares of Cable One by 45.5% in the third quarter. KBC Group NV now owns 160 shares of the company’s stock valued at $56,000 after buying an additional 50 shares during the last quarter. Public Employees Retirement System of Ohio raised its position 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 last quarter. Finally, Federated Hermes Inc. raised 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 valued at $60,000 after buying an additional 111 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

About Cable One

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.