William Blair Investment Management LLC raised its stake in shares of Cable One Inc (NYSE:CABO) by 1.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,033 shares of the company’s stock after acquiring an additional 1,456 shares during the quarter. William Blair Investment Management LLC owned approximately 1.67% of Cable One worth $93,263,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Cable One by 2.4% during the 1st quarter. BlackRock Inc. now owns 430,007 shares of the company’s stock worth $422,000,000 after buying an additional 10,238 shares during the period. Vanguard Group Inc grew its position in shares of Cable One by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 423,990 shares of the company’s stock worth $374,642,000 after buying an additional 8,214 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Cable One by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 78,327 shares of the company’s stock worth $64,236,000 after buying an additional 989 shares during the period. Wells Fargo & Company MN grew its position in shares of Cable One by 73.8% during the 1st quarter. Wells Fargo & Company MN now owns 50,248 shares of the company’s stock worth $49,313,000 after buying an additional 21,332 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Cable One by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 47,520 shares of the company’s stock worth $38,970,000 after buying an additional 4,420 shares during the period. 80.21% of the stock is owned by institutional investors.
NYSE CABO traded up $27.50 during trading on Friday, hitting $1,170.99. The stock had a trading volume of 89,681 shares, compared to its average volume of 53,636. The firm has a market cap of $6.33 billion, a P/E ratio of 40.70 and a beta of 0.43. The company has a 50-day moving average price of $1,138.14. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.72 and a quick ratio of 1.72. Cable One Inc has a 12 month low of $704.60 and a 12 month high of $1,192.79.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Friday, May 24th. Cable One’s dividend payout ratio is currently 27.81%.
In related news, insider Peter N. Witty sold 205 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $1,136.80, for a total transaction of $233,044.00. Following the transaction, the insider now directly owns 2,093 shares of the company’s stock, valued at approximately $2,379,322.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael E. Bowker sold 535 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $1,147.42, for a total value of $613,869.70. Following the transaction, the chief operating officer now directly owns 2,399 shares in the company, valued at $2,752,660.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,843 shares of company stock worth $3,281,398. Company insiders own 1.10% of the company’s stock.
Several equities analysts have recently weighed in on CABO shares. B. Riley lifted their price objective on Cable One from $990.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, March 1st. Zacks Investment Research upgraded Cable One from a “hold” rating to a “buy” rating and set a $1,065.00 price objective on the stock in a report on Tuesday, March 5th. Stephens started coverage on Cable One in a report on Wednesday. They set an “equal weight” rating and a $1,200.00 price objective on the stock. Raymond James reiterated a “hold” rating on shares of Cable One in a report on Thursday, February 28th. Finally, SunTrust Banks reiterated a “hold” rating and set a $905.00 price objective on shares of Cable One in a report on Thursday, February 28th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $1,191.00.
About Cable One
Cable One, Inc owns and operates cable systems that provide data, video, and voice services. The company offers residential data services, including WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home. It also provides residential video services, such as local networks; local community programming that includes governmental and public access; and other channels, which comprise weather, shopping, and religious channels, as well as digital video services, including national and regional cable networks, music channels, and an interactive electronic programming guide with parental controls.
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