Cable One, Inc. (NYSE:CABO) Short Interest Down 6.1% in August

Cable One, Inc. (NYSE:CABO) saw a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 936,500 shares, a decline of 6.1% from the July 31st total of 997,000 shares. Based on an average trading volume of 114,900 shares, the short-interest ratio is currently 8.2 days. Approximately 21.0% of the company’s shares are short sold.

Hedge Funds Weigh In On Cable One

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board lifted its holdings 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 buying an additional 152,496 shares during the period. Burgundy Asset Management Ltd. raised its position in shares of Cable One by 42.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 290,662 shares of the company’s stock worth $102,894,000 after acquiring an additional 86,581 shares in the last quarter. Norges Bank purchased a new position in shares of Cable One in the 4th quarter valued at approximately $35,195,000. AQR Capital Management LLC boosted its position in shares of Cable One by 4,228.5% during the second quarter. AQR Capital Management LLC now owns 61,465 shares of the company’s stock valued at $21,436,000 after purchasing an additional 60,045 shares in the last quarter. Finally, Private Management Group Inc. grew its stake in Cable One by 648.3% in the first quarter. Private Management Group Inc. now owns 66,559 shares of the company’s stock worth $28,163,000 after purchasing an additional 57,664 shares during the period. Institutional investors own 89.92% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their target price on Cable One from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $533.33.

Cable One Price Performance

Shares of Cable One stock opened at $354.84 on Wednesday. The firm has a market cap of $1.99 billion, a PE ratio of 8.13 and a beta of 0.83. The company’s fifty day simple moving average is $363.75 and its two-hundred day simple moving average is $389.90. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.79. Cable One has a 12-month low of $318.68 and a 12-month high of $671.62.

Cable One (NYSE:CABO) last posted its earnings results on Thursday, August 1st. The company reported $8.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.36 by ($2.20). The business had revenue of $394.46 million during the quarter, compared to the consensus estimate of $400.64 million. Cable One had a return on equity of 11.69% 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 earnings per share. As a group, equities analysts expect that Cable One will post 30.99 EPS for the current year.

Cable One Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $2.95 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $11.80 annualized dividend and a dividend yield of 3.33%. Cable One’s dividend payout ratio (DPR) is presently 27.02%.

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.