Cable One (NYSE:CABO) Stock Price Breaks Below Fifty Day Moving Average – What’s Next?

Cable One, Inc. (NYSE:CABO)’s share price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $22.33 and traded as low as $11.33. Cable One shares last traded at $11.7060, with a volume of 832,257 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CABO. Wall Street Zen cut shares of Cable One from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. BNP Paribas Exane decreased their target price on shares of Cable One from $40.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 29th. Williams Trading set a $86.00 target price on shares of Cable One in a research report on Friday, August 7th. Zacks Research raised shares of Cable One from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Weiss Ratings raised shares of Cable One from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Cable One presently has a consensus rating of “Reduce” and an average target price of $80.00.

Cable One Stock Performance

The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 9.27. The stock has a fifty day moving average price of $22.33 and a 200-day moving average price of $47.50. The firm has a market capitalization of $66.37 million, a price-to-earnings ratio of -0.06 and a beta of 0.52.

Institutional Trading of Cable One

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in shares of Cable One during the second quarter worth about $30,000. Integrated Wealth Concepts LLC bought a new position in shares of Cable One during the second quarter valued at approximately $34,000. Public Employees Retirement System of Ohio purchased a new stake in Cable One in the second quarter worth $52,000. Fifth Third Bancorp lifted its stake in Cable One by 3,100.0% in the first quarter. Fifth Third Bancorp now owns 1,120 shares of the company’s stock worth $102,000 after acquiring an additional 1,085 shares during the period. Finally, Inspire Investing LLC boosted its holdings in Cable One by 33.0% in the first quarter. Inspire Investing LLC now owns 5,523 shares of the company’s stock valued at $504,000 after acquiring an additional 1,370 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

About Cable One

Cable One, Inc (NYSE: CABO) is a broadband communications provider serving residential and business customers in communities across the United States. The company operates primarily through the Sparklight brand and provides high-speed internet, video and voice services, along with related communications solutions.

For residential customers, Cable One offers broadband internet access, television programming and digital phone services. Its business operations provide internet connectivity, data transport, voice services, managed solutions and other telecommunications products to small and medium-sized businesses, enterprise customers and institutions.