Cable One (NYSE:CABO) Sees Large Volume Increase – Still a Buy?

Shares of Cable One, Inc. (NYSE:CABO) saw an uptick in trading volume on Friday . 60,764 shares traded hands during mid-day trading, a decline of 41% from the previous session’s volume of 102,811 shares.The stock last traded at $346.17 and had previously closed at $341.56.

Analyst Upgrades and Downgrades

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

Cable One Price Performance

The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.87. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 8.48 and a beta of 0.84. The company’s 50-day moving average is $344.43 and its 200-day moving average is $362.91.

Cable One (NYSE:CABO) last posted its quarterly 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). Cable One had a return on equity of 12.04% and a net margin of 15.31%. The business had revenue of $394.46 million during the quarter, compared to analyst estimates of $400.64 million. During the same period last year, the company earned $10.43 EPS. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities research analysts expect that Cable One, Inc. will post 30.99 earnings per share for the current fiscal year.

Cable One Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Tuesday, August 27th. Cable One’s payout ratio is 27.78%.

Institutional Trading of Cable One

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of Cable One by 452.4% during the second quarter. Versant Capital Management Inc now owns 116 shares of the company’s stock worth $41,000 after buying an additional 95 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Cable One during the second quarter worth approximately $45,000. GAMMA Investing LLC increased its holdings in shares of Cable One by 964.3% during the second quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock worth $53,000 after buying an additional 135 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Cable One in the second quarter valued at approximately $65,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cable One in the second quarter valued at approximately $72,000. Institutional investors and hedge funds 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.