Cable One (NYSE:CABO) Trading Down 7.9% – Here’s What Happened

Cable One, Inc. (NYSE:CABO)’s share price was down 7.9% during mid-day trading on Thursday . The company traded as low as $106.11 and last traded at $105.4380. Approximately 49,243 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 156,997 shares. The stock had previously closed at $114.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CABO shares. Zacks Research upgraded shares of Cable One from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Wells Fargo & Company dropped their price target on Cable One from $120.00 to $107.00 and set an “underweight” rating for the company in a research note on Friday, November 7th. JPMorgan Chase & Co. reduced their target price on shares of Cable One from $175.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cable One in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $256.75.

Cable One Price Performance

The firm has a fifty day moving average of $103.09 and a 200 day moving average of $132.26. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $594.32 million, a P/E ratio of -1.30 and a beta of 0.74.

Institutional Trading of Cable One

A number of hedge funds have recently bought and sold shares of the company. Baupost Group LLC MA bought a new stake in shares of Cable One during the 3rd quarter valued at about $12,068,000. Private Management Group Inc. increased its holdings in Cable One by 103.9% during the second quarter. Private Management Group Inc. now owns 311,131 shares of the company’s stock valued at $42,255,000 after buying an additional 158,564 shares during the last quarter. Goldentree Asset Management LP bought a new position in Cable One in the third quarter worth approximately $13,033,000. Burgundy Asset Management Ltd. boosted its stake in shares of Cable One by 18.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock worth $64,473,000 after acquiring an additional 72,327 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Cable One in the 2nd quarter worth $8,336,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

About Cable One

Cable One, Inc (NYSE:CABO) is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One’s infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.