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

Shares of Cable One, Inc. (NYSE:CABO) gapped down before the market opened on Wednesday . The stock had previously closed at $94.83, but opened at $88.73. Cable One shares last traded at $92.6710, with a volume of 7,758 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Cable One from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cable One in a research report on Wednesday, January 21st. TD Cowen dropped their target price on shares of Cable One from $260.00 to $142.00 and set a “hold” rating for the company in a report on Friday, February 27th. Wells Fargo & Company cut their target price on Cable One from $107.00 to $90.00 and set an “underweight” rating on the stock in a research report on Friday, February 27th. Finally, BNP Paribas Exane cut Cable One from a “neutral” rating to an “underperform” rating and set a $80.00 price target on the stock. in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Cable One presently has an average rating of “Reduce” and a consensus target price of $114.25.

Cable One Price Performance

The company has a debt-to-equity ratio of 1.81, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $546.90 million, a PE ratio of -1.51 and a beta of 0.69. The stock’s 50 day simple moving average is $98.92 and its 200-day simple moving average is $121.19.

Cable One (NYSE:CABO) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of $7.60 by ($8.95). The business had revenue of $363.74 million during the quarter, compared to analysts’ expectations of $368.59 million. Cable One had a negative net margin of 23.74% and a positive return on equity of 7.36%. As a group, equities analysts forecast that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cable One

Several institutional investors have recently modified their holdings of the business. Baupost Group LLC MA purchased a new stake in shares of Cable One during the third quarter worth $12,068,000. Goldentree Asset Management LP purchased a new position in Cable One in the third quarter valued at $13,033,000. Burgundy Asset Management Ltd. boosted its holdings in Cable One by 18.0% in the second quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock valued at $64,473,000 after purchasing an additional 72,327 shares during the period. Norges Bank acquired a new position in Cable One during the 2nd quarter worth $8,336,000. Finally, Marshall Wace LLP grew its stake in Cable One by 74.7% during the 2nd quarter. Marshall Wace LLP now owns 140,318 shares of the company’s stock worth $19,057,000 after purchasing an additional 60,012 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Cable One Company Profile

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.