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

Cable One, Inc. (NYSE:CABO)’s share price dropped 5.1% during mid-day trading on Wednesday . The company traded as low as $268.12 and last traded at $264.36. Approximately 4,694 shares changed 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.

Wall Street Analyst Weigh In

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

Cable One Price Performance

The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 6.34 and a beta of 0.93. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93. The company has a 50-day simple moving average of $305.74 and a two-hundred day simple moving average of $345.09.

Cable One Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were issued a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Tuesday, February 18th. Cable One’s payout ratio is currently 229.57%.

Insider Buying and Selling

In other news, Director Wallace R. Weitz purchased 1,000 shares of the stock in a transaction that occurred on 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 purchase, the director now owns 5,584 shares in the company, valued at $1,362,607.68. This represents a 21.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of Cable One

A number of large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its holdings in shares of 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 last quarter. Summit Investment Advisors Inc. lifted 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 valued at $214,000 after purchasing an additional 37 shares in the last quarter. Sanctuary Advisors LLC raised its position in Cable One by 3.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,445 shares of the company’s stock valued at $505,000 after buying an additional 43 shares during the last quarter. Global Retirement Partners LLC raised its position in Cable One by 15.5% in the 4th quarter. Global Retirement Partners LLC now owns 343 shares of the company’s stock valued at $124,000 after buying an additional 46 shares during the last quarter. Finally, KBC Group NV raised its position in Cable One by 45.5% in the 3rd 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. 89.92% of the stock is currently owned by institutional investors.

Cable One Company Profile

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.