Private Management Group Inc. Buys New Stake in Cable One, Inc. (NYSE:CABO)

Private Management Group Inc. bought a new stake in shares of Cable One, Inc. (NYSE:CABO) in the fourth quarter, Holdings Channel reports. The fund bought 8,895 shares of the company’s stock, valued at approximately $4,951,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. raised its position in shares of Cable One by 24.8% in the third quarter. Burgundy Asset Management Ltd. now owns 155,097 shares of the company’s stock worth $95,484,000 after acquiring an additional 30,831 shares during the period. River Road Asset Management LLC increased its stake in shares of Cable One by 20.4% during the third quarter. River Road Asset Management LLC now owns 111,388 shares of the company’s stock worth $68,575,000 after purchasing an additional 18,896 shares in the last quarter. London Co. of Virginia increased its stake in shares of Cable One by 33.4% during the third quarter. London Co. of Virginia now owns 69,619 shares of the company’s stock worth $42,860,000 after purchasing an additional 17,420 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cable One by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 58,719 shares of the company’s stock worth $36,150,000 after purchasing an additional 12,780 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Cable One by 1,034.8% during the third quarter. AQR Capital Management LLC now owns 12,256 shares of the company’s stock worth $7,412,000 after purchasing an additional 11,176 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Cable One Trading Down 1.1 %

Shares of NYSE CABO traded down $4.44 during midday trading on Wednesday, reaching $402.98. 87,794 shares of the stock were exchanged, compared to its average volume of 106,445. The company has a 50 day simple moving average of $433.79 and a 200 day simple moving average of $512.98. The stock has a market capitalization of $2.26 billion, a P/E ratio of 8.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.69 and a current ratio of 1.69. Cable One, Inc. has a twelve month low of $373.37 and a twelve month high of $768.75.

Cable One (NYSE:CABO) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $10.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.86 by ($2.20). The firm had revenue of $411.82 million for the quarter, compared to analyst estimates of $417.66 million. Cable One had a return on equity of 13.65% and a net margin of 15.94%. As a group, equities analysts expect that Cable One, Inc. will post 43.36 earnings per share for the current year.

Cable One Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were issued a $2.95 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $11.80 annualized dividend and a yield of 2.93%. Cable One’s dividend payout ratio (DPR) is presently 26.12%.

Insider Activity at Cable One

In related news, insider Christopher D. Boone sold 204 shares of Cable One stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $460.00, for a total value of $93,840.00. Following the completion of the sale, the insider now owns 1,854 shares in the company, valued at approximately $852,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. KeyCorp cut their target price on shares of Cable One from $900.00 to $881.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Wells Fargo & Company cut their price objective on shares of Cable One from $460.00 to $400.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Finally, Moffett Nathanson upgraded shares of Cable One from a “neutral” rating to a “buy” rating and set a $615.00 price objective for the company in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $627.80.

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.