Cable One, Inc. (NYSE:CABO) Sees Large Decrease in Short Interest

Cable One, Inc. (NYSE:CABO) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 864,200 shares, a drop of 8.6% from the September 30th total of 945,100 shares. Based on an average trading volume of 88,300 shares, the days-to-cover ratio is currently 9.8 days. Approximately 19.4% of the company’s shares are sold short.

Cable One Trading Up 1.4 %

Shares of CABO opened at $341.56 on Friday. Cable One has a 1-year low of $311.28 and a 1-year high of $618.44. The company has a 50-day moving average of $344.08 and a 200 day moving average of $363.28. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 7.82 and a beta of 0.84. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.81 and a quick ratio of 1.81.

Cable One (NYSE:CABO) last announced 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 company had revenue of $394.46 million for the quarter, compared to the consensus estimate of $400.64 million. Cable One had a net margin of 15.31% and a return on equity of 12.04%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.43 EPS. On average, research analysts expect that Cable One will post 30.99 EPS for the current year.

Cable One Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Tuesday, August 27th. Cable One’s dividend payout ratio (DPR) is 27.02%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in shares of Cable One by 452.4% in the 2nd quarter. Versant Capital Management Inc now owns 116 shares of the company’s stock worth $41,000 after buying an additional 95 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Cable One in the 2nd quarter worth approximately $45,000. GAMMA Investing LLC grew its position in shares of Cable One by 964.3% in the 2nd quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock worth $53,000 after buying an additional 135 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Cable One in the 2nd quarter worth approximately $65,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cable One in the 2nd quarter worth approximately $72,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

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.