Hi Line Capital Management LLC Lowers Position in Cable One, Inc. (NYSE:CABO)

Hi Line Capital Management LLC reduced its stake in Cable One, Inc. (NYSE:CABO) by 34.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,644 shares of the company’s stock after selling 1,373 shares during the quarter. Cable One makes up 0.5% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 24th largest holding. Hi Line Capital Management LLC’s holdings in Cable One were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CABO. State of Michigan Retirement System raised its position in Cable One by 9.4% in the 1st quarter. State of Michigan Retirement System now owns 1,159 shares of the company’s stock valued at $490,000 after buying an additional 100 shares during the last quarter. Mission Wealth Management LP increased its position in shares of Cable One by 9.0% during the 1st quarter. Mission Wealth Management LP now owns 978 shares of the company’s stock valued at $414,000 after purchasing an additional 81 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Cable One by 50.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 759 shares of the company’s stock valued at $321,000 after purchasing an additional 253 shares during the last quarter. Capstone Investment Advisors LLC increased its position in shares of Cable One by 87.9% during the 1st quarter. Capstone Investment Advisors LLC now owns 3,730 shares of the company’s stock valued at $1,578,000 after purchasing an additional 1,745 shares during the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in shares of Cable One during the 1st quarter valued at $181,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Cable One Stock Up 1.4 %

CABO stock opened at $341.56 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 8.04 and a beta of 0.84. Cable One, Inc. has a fifty-two week low of $311.28 and a fifty-two week high of $618.44. The stock has a fifty day moving average of $344.08 and a 200-day moving average of $363.28.

Cable One (NYSE:CABO) last posted its quarterly earnings results on Thursday, August 1st. The company reported $8.16 earnings per share for the quarter, missing the consensus estimate of $10.36 by ($2.20). The firm had revenue of $394.46 million for the quarter, compared to the consensus estimate of $400.64 million. Cable One had a return on equity of 12.04% and a net margin of 15.31%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.43 EPS. As a group, equities research analysts predict that Cable One, Inc. will post 30.99 earnings per share for the current year.

Cable One Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a dividend of $2.95 per share. The ex-dividend date was Tuesday, August 27th. This represents a $11.80 annualized dividend and a dividend yield of 3.45%. Cable One’s payout ratio is 27.78%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their target price on Cable One from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $533.33.

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.