Cable One, Inc. (NYSE:CABO – Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 359,000 shares, an increase of 23.0% from the August 15th total of 291,800 shares. Based on an average trading volume of 63,600 shares, the days-to-cover ratio is currently 5.6 days. Currently, 8.1% of the shares of the company are short sold.
Institutional Trading of Cable One
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Trust N.A. raised its stake in Cable One by 6.3% during the 1st quarter. Raymond James Trust N.A. now owns 187 shares of the company’s stock valued at $274,000 after purchasing an additional 11 shares during the period. Linden Thomas Advisory Services LLC raised its stake in Cable One by 4.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 343 shares of the company’s stock valued at $241,000 after purchasing an additional 15 shares during the period. Personal CFO Solutions LLC grew its holdings in Cable One by 4.8% during the 2nd quarter. Personal CFO Solutions LLC now owns 327 shares of the company’s stock valued at $215,000 after buying an additional 15 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Cable One by 0.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,262 shares of the company’s stock valued at $2,322,000 after buying an additional 18 shares in the last quarter. Finally, Mission Wealth Management LP grew its holdings in Cable One by 3.5% during the 1st quarter. Mission Wealth Management LP now owns 564 shares of the company’s stock valued at $396,000 after buying an additional 19 shares in the last quarter. Institutional investors own 98.60% of the company’s stock.
Cable One Stock Performance
Shares of NYSE CABO traded up $2.11 during trading on Monday, hitting $623.27. The company had a trading volume of 47,749 shares, compared to its average volume of 59,926. The stock has a 50 day simple moving average of $665.92 and a 200 day simple moving average of $668.08. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.62 and a current ratio of 1.62. Cable One has a 12 month low of $602.70 and a 12 month high of $1,037.37. The firm has a market capitalization of $3.50 billion, a P/E ratio of 36.38 and a beta of 0.86.
Cable One Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 29th were paid a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a yield of 1.89%. The ex-dividend date was Monday, August 28th. This is an increase from Cable One’s previous quarterly dividend of $2.85. Cable One’s dividend payout ratio (DPR) is 68.89%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. KeyCorp lowered their target price on Cable One from $1,275.00 to $1,175.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Raymond James lowered their target price on Cable One from $900.00 to $825.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Finally, StockNews.com started coverage on Cable One in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cable One currently has an average rating of “Hold” and a consensus price target of $881.00.
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.
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