Prudential Financial Inc. Grows Stake in Cable One, Inc. (CABO)
Prudential Financial Inc. grew its holdings in Cable One, Inc. (NYSE:CABO) by 20.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,134 shares of the company’s stock after purchasing an additional 2,249 shares during the quarter. Prudential Financial Inc. owned approximately 0.23% of Cable One worth $9,337,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Great Lakes Advisors LLC acquired a new stake in shares of Cable One in the second quarter valued at approximately $1,905,000. TD Asset Management Inc. boosted its position in Cable One by 10.5% during the first quarter. TD Asset Management Inc. now owns 2,100 shares of the company’s stock worth $1,311,000 after acquiring an additional 200 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Cable One by 13.2% during the second quarter. Bank of New York Mellon Corp now owns 72,838 shares of the company’s stock worth $51,780,000 after acquiring an additional 8,521 shares during the last quarter. K2 Principal Fund L.P. acquired a new stake in Cable One during the first quarter worth approximately $1,561,000. Finally, Macquarie Group Ltd. boosted its position in Cable One by 2.6% during the first quarter. Macquarie Group Ltd. now owns 65,359 shares of the company’s stock worth $40,815,000 after acquiring an additional 1,661 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.
Shares of Cable One, Inc. (NYSE CABO) opened at 733.40 on Thursday. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 39.38 and a beta of 0.31. The company’s 50-day moving average is $746.07 and its 200-day moving average is $662.98. Cable One, Inc. has a 12 month low of $538.00 and a 12 month high of $754.00.
Cable One (NYSE:CABO) last released its earnings results on Tuesday, August 8th. The company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.10 by ($0.13). Cable One had a return on equity of 22.83% and a net margin of 12.44%. The business had revenue of $241.00 million during the quarter, compared to the consensus estimate of $247.02 million. During the same quarter in the previous year, the firm earned $4.62 earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities research analysts forecast that Cable One, Inc. will post $20.60 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a $1.75 dividend. This is an increase from Cable One’s previous quarterly dividend of $1.50. This represents a $7.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Friday, August 11th. Cable One’s dividend payout ratio (DPR) is 37.57%.
In other news, major shareholder Donald Graham bought 24,561 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were acquired at an average cost of $742.52 per share, with a total value of $18,237,033.72. Following the completion of the transaction, the insider now directly owns 271,546 shares in the company, valued at approximately $201,628,335.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Michael Lardy sold 322 shares of Cable One stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $725.00, for a total transaction of $233,450.00. Following the completion of the transaction, the senior vice president now directly owns 2,542 shares in the company, valued at $1,842,950. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,483 shares of company stock worth $3,278,889. 1.30% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on CABO. TheStreet upgraded shares of Cable One from a “c” rating to a “b-” rating in a research report on Monday, June 12th. Raymond James Financial, Inc. began coverage on shares of Cable One in a research report on Thursday, June 8th. They set an “outperform” rating and a $785.00 target price on the stock. Zacks Investment Research upgraded shares of Cable One from a “strong sell” rating to a “hold” rating in a research report on Monday, July 10th. Finally, BidaskClub lowered shares of Cable One from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $693.75.
Cable One Company Profile
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
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