Russell Investments Group Ltd. Lowers Stake in Cable One Inc (NYSE:CABO)

Russell Investments Group Ltd. reduced its position in shares of Cable One Inc (NYSE:CABO) by 9.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 24,622 shares of the company’s stock after selling 2,700 shares during the period. Russell Investments Group Ltd.’s holdings in Cable One were worth $30,880,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CABO. Empowered Funds LLC acquired a new position in shares of Cable One during the 2nd quarter worth about $1,166,000. Douglass Winthrop Advisors LLC raised its holdings in Cable One by 245.6% in the 2nd quarter. Douglass Winthrop Advisors LLC now owns 1,621 shares of the company’s stock valued at $1,898,000 after acquiring an additional 1,152 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in Cable One in the 2nd quarter valued at about $234,000. NN Investment Partners Holdings N.V. acquired a new stake in Cable One in the 2nd quarter valued at about $1,550,000. Finally, First Hawaiian Bank raised its holdings in Cable One by 22.5% in the 2nd quarter. First Hawaiian Bank now owns 321 shares of the company’s stock valued at $376,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 80.75% of the company’s stock.

A number of research firms have commented on CABO. Wolfe Research upgraded shares of Cable One from an “underperform” rating to a “peer perform” rating in a report on Tuesday, July 23rd. Zacks Investment Research upgraded shares of Cable One from a “hold” rating to a “buy” rating and set a $1,506.00 price objective for the company in a report on Monday. ValuEngine downgraded shares of Cable One from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp reiterated an “overweight” rating and issued a $1,482.00 price objective (up previously from $1,316.00) on shares of Cable One in a report on Wednesday, September 4th. Finally, B. Riley set a $1,400.00 price objective on shares of Cable One and gave the company a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $1,321.60.

Shares of NYSE CABO opened at $1,356.19 on Friday. The company has a 50 day simple moving average of $1,286.63 and a 200-day simple moving average of $1,208.28. The company has a market capitalization of $7.59 billion, a P/E ratio of 47.14 and a beta of 0.40. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.09 and a quick ratio of 1.09. Cable One Inc has a 1 year low of $767.15 and a 1 year high of $1,358.97.

Cable One (NYSE:CABO) last announced its quarterly earnings results on Thursday, November 7th. The company reported $8.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.25 by $0.43. The business had revenue of $284.99 million during the quarter, compared to the consensus estimate of $285.64 million. Cable One had a net margin of 14.10% and a return on equity of 21.26%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $6.70 EPS. As a group, research analysts expect that Cable One Inc will post 30.03 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 0.66%. Cable One’s dividend payout ratio is currently 31.28%.

In related news, CEO Julia M. Laulis sold 662 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $1,255.32, for a total transaction of $831,021.84. Following the completion of the transaction, the chief executive officer now owns 2,899 shares of the company’s stock, valued at approximately $3,639,172.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael E. Bowker sold 300 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1,246.80, for a total transaction of $374,040.00. Following the transaction, the chief operating officer now directly owns 1,718 shares of the company’s stock, valued at approximately $2,142,002.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,630 shares of company stock valued at $2,059,962 in the last 90 days. Insiders own 1.10% of the company’s stock.

Cable One Profile

Cable One, Inc owns and operates cable systems that provide data, video, and voice services. The company offers residential data services, including WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home. It also provides residential video services, such as local networks; local community programming that includes governmental and public access; and other channels, which comprise weather, shopping, and religious channels, as well as digital video services, including national and regional cable networks, music channels, and an interactive electronic programming guide with parental controls.

Recommended Story: CD Ladder

Want to see what other hedge funds are holding CABO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cable One Inc (NYSE:CABO).

Institutional Ownership by Quarter for Cable One (NYSE:CABO)

Receive News & Ratings for Cable One Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cable One and related companies with MarketBeat.com's FREE daily email newsletter.