Short Interest in Cable One, Inc. (NYSE:CABO) Declines By 6.1%

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

Hedge Funds Weigh In On Cable One

A number of large investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its stake in shares of Cable One by 880.9% during the 1st quarter. Jane Street Group LLC now owns 14,870 shares of the company’s stock valued at $6,292,000 after purchasing an additional 13,354 shares during the period. Vanguard Group Inc. increased its position in shares of Cable One by 11.0% during the first quarter. Vanguard Group Inc. now owns 490,178 shares of the company’s stock valued at $207,409,000 after buying an additional 48,513 shares during the period. Nordea Investment Management AB purchased a new stake in shares of Cable One in the first quarter worth about $8,695,000. Norges Bank bought a new position in shares of Cable One in the fourth quarter valued at approximately $35,195,000. Finally, Jump Financial LLC boosted its position in shares of Cable One by 115.3% in the fourth quarter. Jump Financial LLC now owns 3,972 shares of the company’s stock valued at $2,211,000 after acquiring an additional 2,127 shares during the period. 89.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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 report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. 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 Trading Up 0.6 %

Shares of CABO opened at $354.84 on Wednesday. The firm has a market cap of $1.99 billion, a P/E ratio of 8.13 and a beta of 0.83. Cable One has a fifty-two week low of $318.68 and a fifty-two week high of $671.62. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.81 and a current ratio of 1.81. The business has a 50-day moving average of $363.75 and a 200 day moving average of $389.90.

Cable One (NYSE:CABO) last posted its earnings results on Thursday, August 1st. The company reported $8.16 earnings per share 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 analysts’ expectations of $400.64 million. Cable One had a return on equity of 11.69% and a net margin of 15.31%. Cable One’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.43 EPS. As a group, research analysts forecast 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 will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $2.95 per share. The ex-dividend date is Tuesday, August 27th. This represents a $11.80 dividend on an annualized basis and a yield of 3.33%. Cable One’s payout ratio is 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.