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

Cable One, Inc. (NYSE:CABO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $114.43, but opened at $104.93. Cable One shares last traded at $105.3440, with a volume of 3,655 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Cable One from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Wells Fargo & Company cut their price target on Cable One from $120.00 to $107.00 and set an “underweight” rating for the company in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cable One in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. reduced their target price on Cable One from $175.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $256.75.

Cable One Stock Performance

The stock has a 50-day simple moving average of $103.63 and a 200-day simple moving average of $132.54. The stock has a market cap of $574.25 million, a PE ratio of -1.25 and a beta of 0.74. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.38 and a quick ratio of 0.38.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Baupost Group LLC MA purchased a new position in Cable One in the third quarter valued at about $12,068,000. Private Management Group Inc. boosted its stake in shares of Cable One by 103.9% during the 2nd quarter. Private Management Group Inc. now owns 311,131 shares of the company’s stock valued at $42,255,000 after buying an additional 158,564 shares during the last quarter. Goldentree Asset Management LP acquired a new stake in shares of Cable One during the third quarter worth approximately $13,033,000. Burgundy Asset Management Ltd. grew its position in shares of Cable One by 18.0% during the second quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock worth $64,473,000 after buying an additional 72,327 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Cable One in the second quarter worth $8,336,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

About Cable One

Cable One, Inc (NYSE:CABO) is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One’s infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.