Cable One (NYSE:CABO) Sets New 12-Month Low – Should You Sell?

Shares of Cable One, Inc. (NYSE:CABO) reached a new 52-week low on Thursday . The stock traded as low as $233.82 and last traded at $236.30, with a volume of 123618 shares traded. The stock had previously closed at $274.73.

Analyst Upgrades and Downgrades

CABO has been the topic of several research analyst reports. KeyCorp decreased their price objective on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th.

Cable One Price Performance

The stock has a market capitalization of $1.28 billion, a PE ratio of 5.26 and a beta of 0.93. The firm’s 50 day simple moving average is $301.39 and its 200 day simple moving average is $343.84. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93.

Cable One Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were paid a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend was Tuesday, February 18th. Cable One’s dividend payout ratio (DPR) is presently 229.57%.

Insiders Place Their Bets

In other news, Director Wallace R. Weitz bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $244.02 per share, with a total value of $244,020.00. Following the completion of the purchase, the director now directly owns 5,584 shares in the company, valued at $1,362,607.68. This represents a 21.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its holdings in Cable One by 116.4% in the third quarter. Hantz Financial Services Inc. now owns 4,497 shares of the company’s stock valued at $1,573,000 after acquiring an additional 2,419 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Cable One by 5.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 23,660 shares of the company’s stock valued at $8,568,000 after acquiring an additional 1,297 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Cable One by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 28,572 shares of the company’s stock valued at $10,346,000 after acquiring an additional 1,332 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Cable One during the 4th quarter valued at $10,491,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Cable One by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 73,013 shares of the company’s stock valued at $26,439,000 after buying an additional 2,627 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Cable One Company Profile

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.