Cable One (NYSE:CABO) Stock Price Down 6.4% – Here’s What Happened

Shares of Cable One, Inc. (NYSE:CABO) dropped 6.4% during mid-day trading on Friday . The stock traded as low as $106.80 and last traded at $107.4850. Approximately 165,930 shares traded hands during mid-day trading, an increase of 11% from the average daily volume of 149,549 shares. The stock had previously closed at $114.78.

Analyst Upgrades and Downgrades

CABO has been the topic of several research reports. Wells Fargo & Company dropped their target price on shares of Cable One from $107.00 to $90.00 and set an “underweight” rating on the stock in a report on Friday, February 27th. BNP Paribas Exane cut shares of Cable One from a “neutral” rating to an “underperform” rating and set a $80.00 target price on the stock. in a report on Tuesday, February 24th. TD Cowen dropped their target price on shares of Cable One from $260.00 to $142.00 and set a “hold” rating on the stock in a report on Friday, February 27th. Zacks Research cut shares of Cable One from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cable One in a report on Monday. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Cable One has a consensus rating of “Reduce” and an average price target of $114.25.

Cable One Stock Down 8.9%

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 firm has a market capitalization of $593.14 million, a P/E ratio of -1.63 and a beta of 0.69. The company’s 50-day simple moving average is $101.90 and its two-hundred day simple moving average is $114.09.

Cable One (NYSE:CABO) last released its quarterly earnings results on Thursday, February 26th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of $7.60 by ($8.95). Cable One had a positive return on equity of 7.36% and a negative net margin of 23.74%.The business had revenue of $363.74 million during the quarter, compared to the consensus estimate of $368.59 million. As a group, research analysts expect that Cable One, Inc. will post 36.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CABO. EverSource Wealth Advisors LLC raised its position in shares of Cable One by 180.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 140 shares of the company’s stock valued at $25,000 after purchasing an additional 90 shares during the period. Quarry LP raised its position in shares of Cable One by 1,011.1% during the 3rd quarter. Quarry LP now owns 200 shares of the company’s stock valued at $35,000 after purchasing an additional 182 shares during the period. Parallel Advisors LLC raised its position in shares of Cable One by 2,288.9% during the 3rd quarter. Parallel Advisors LLC now owns 215 shares of the company’s stock valued at $38,000 after purchasing an additional 206 shares during the period. Quantbot Technologies LP bought a new stake in shares of Cable One during the 3rd quarter valued at $39,000. Finally, Hantz Financial Services Inc. raised its position in shares of Cable One by 107.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $45,000 after purchasing an additional 132 shares during the period. 89.92% of the stock is currently owned by institutional investors.

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.