Cable One (NYSE:CABO) Hits New 12-Month Low – Here’s What Happened

Cable One, Inc. (NYSE:CABO)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $96.67 and last traded at $101.3340, with a volume of 216910 shares. The stock had previously closed at $104.46.

Wall Street Analyst Weigh In

CABO has been the topic of several research reports. Wells Fargo & Company cut their target price on Cable One from $120.00 to $107.00 and set an “underweight” rating on the stock in a research report on Friday, November 7th. JPMorgan Chase & Co. dropped their price target on Cable One from $175.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cable One in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Cable One has an average rating of “Reduce” and an average price target of $256.75.

Cable One Stock Performance

The firm’s fifty day simple moving average is $154.09 and its 200 day simple moving average is $148.82. The company has a market capitalization of $571.52 million, a PE ratio of -1.24 and a beta of 0.86. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.38 and a quick ratio of 0.38.

Cable One (NYSE:CABO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.25 by ($4.08). Cable One had a negative net margin of 29.78% and a positive return on equity of 7.96%. The company had revenue of $376.01 million during the quarter, compared to analyst estimates of $378.96 million. On average, research analysts predict that Cable One, Inc. will post 32.08 EPS for the current year.

Hedge Funds Weigh In On Cable One

Several institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in shares of Cable One in the 1st quarter valued at $30,000. EverSource Wealth Advisors LLC increased its holdings in Cable One by 180.0% in the third quarter. EverSource Wealth Advisors LLC now owns 140 shares of the company’s stock valued at $25,000 after buying an additional 90 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Cable One by 5,233.3% in the first quarter. Brooklyn Investment Group now owns 160 shares of the company’s stock worth $43,000 after acquiring an additional 157 shares during the period. Quarry LP boosted its stake in shares of Cable One by 1,011.1% during the 3rd quarter. Quarry LP now owns 200 shares of the company’s stock worth $35,000 after acquiring an additional 182 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Cable One by 2,288.9% during the 3rd quarter. Parallel Advisors LLC now owns 215 shares of the company’s stock worth $38,000 after acquiring an additional 206 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

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.