Cable One (NYSE:CABO) Sees Strong Trading Volume – Should You Buy?

Cable One, Inc. (NYSE:CABO) saw strong trading volume on Monday . 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

A number of brokerages have recently weighed in on CABO. 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 report on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on Cable One from $420.00 to $325.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Wells Fargo & Company cut 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.

Cable One Trading Down 0.3 %

The company has a 50-day simple moving average of $287.49 and a 200 day simple moving average of $339.01. The firm has a market cap of $1.44 billion, a PE ratio of 5.91 and a beta of 0.93. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.84.

Cable One Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were paid a $2.95 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $11.80 annualized dividend and a dividend yield of 4.62%. Cable One’s dividend payout ratio is presently 229.57%.

Insider Activity

In other Cable One news, Director Wallace R. Weitz bought 1,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $244.02 per share, with a total value of $244,020.00. Following the completion of the acquisition, the director now directly owns 5,584 shares of the company’s stock, valued at $1,362,607.68. This represents a 21.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Trading of Cable One

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in Cable One by 20.4% during the third quarter. Public Employees Retirement System of Ohio now owns 171 shares of the company’s stock worth $60,000 after purchasing an additional 29 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Cable One by 6.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 590 shares of the company’s stock worth $214,000 after buying an additional 37 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Cable One by 3.1% in the third quarter. Sanctuary Advisors LLC now owns 1,445 shares of the company’s stock valued at $505,000 after acquiring an additional 43 shares during the last quarter. Global Retirement Partners LLC increased its stake in Cable One by 15.5% during the fourth quarter. Global Retirement Partners LLC now owns 343 shares of the company’s stock worth $124,000 after acquiring an additional 46 shares during the last quarter. Finally, KBC Group NV raised its position in 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 purchasing an additional 50 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

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.