SummerHaven Investment Management LLC Raises Stock Holdings in Cable One, Inc. (NYSE:CABO)

SummerHaven Investment Management LLC lifted its holdings in Cable One, Inc. (NYSE:CABO) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,185 shares of the company’s stock after buying an additional 41 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Cable One were worth $419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Cable One by 11.0% in the first quarter. Vanguard Group Inc. now owns 490,178 shares of the company’s stock worth $207,409,000 after buying an additional 48,513 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Cable One by 11.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 268,504 shares of the company’s stock worth $149,447,000 after purchasing an additional 27,635 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in Cable One by 26.2% in the first quarter. Burgundy Asset Management Ltd. now owns 204,081 shares of the company’s stock worth $86,353,000 after purchasing an additional 42,376 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Cable One by 1,906.2% in the first quarter. Canada Pension Plan Investment Board now owns 160,496 shares of the company’s stock worth $67,911,000 after purchasing an additional 152,496 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Cable One by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 110,375 shares of the company’s stock worth $61,435,000 after purchasing an additional 15,907 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CABO shares. JPMorgan Chase & Co. increased their price objective on Cable One from $470.00 to $480.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. TD Cowen dropped their target price on Cable One from $650.00 to $456.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Finally, Wells Fargo & Company dropped their target price on Cable One from $400.00 to $350.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Cable One presently has a consensus rating of “Hold” and an average price target of $533.33.

Cable One Stock Up 3.8 %

Shares of Cable One stock traded up $12.74 during trading on Friday, reaching $347.71. The company’s stock had a trading volume of 10,106 shares, compared to its average volume of 109,879. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.86. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 7.66 and a beta of 0.83. Cable One, Inc. has a 1-year low of $318.68 and a 1-year high of $671.62. The company has a 50-day simple moving average of $363.98 and a two-hundred day simple moving average of $399.07.

Cable One (NYSE:CABO) last posted its quarterly earnings data on Thursday, August 1st. The company reported $8.16 earnings per share for the quarter, missing analysts’ consensus estimates of $10.36 by ($2.20). The business had revenue of $394.46 million during the quarter, compared to analyst estimates of $400.64 million. Cable One had a return on equity of 11.84% and a net margin of 15.31%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $10.43 EPS. As a group, equities analysts forecast that Cable One, Inc. will post 32.21 earnings per share for the current year.

Cable One Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a $2.95 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.39%. Cable One’s payout ratio is 27.02%.

Cable One 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.