Cable One Inc (NYSE:CABO) Short Interest Up 10.9% in July

Cable One Inc (NYSE:CABO) saw a large growth in short interest in July. As of July 31st, there was short interest totalling 206,100 shares, a growth of 10.9% from the June 30th total of 185,800 shares. Based on an average daily trading volume, of 59,500 shares, the days-to-cover ratio is currently 3.5 days. Approximately 4.7% of the company’s shares are sold short.

Shares of NYSE:CABO traded down $9.41 during trading hours on Wednesday, hitting $1,252.00. The company’s stock had a trading volume of 1,333 shares, compared to its average volume of 53,396. The company’s fifty day moving average is $1,210.23. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.09 and a quick ratio of 1.72. Cable One has a 52 week low of $767.15 and a 52 week high of $1,271.15. The firm has a market capitalization of $7.19 billion, a P/E ratio of 43.87 and a beta of 0.43.

Cable One (NYSE:CABO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.76 by ($1.41). Cable One had a return on equity of 21.26% and a net margin of 14.10%. The firm had revenue of $285.70 million during the quarter, compared to analysts’ expectations of $283.61 million. During the same period in the previous year, the firm earned $7.65 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts forecast that Cable One will post 30.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th will be given a $2.25 dividend. The ex-dividend date is Monday, August 19th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 0.72%. This is an increase from Cable One’s previous quarterly dividend of $2.00. Cable One’s payout ratio is presently 27.81%.

In other news, SVP Eric Michael Lardy sold 400 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $1,145.00, for a total value of $458,000.00. Following the completion of the sale, the senior vice president now owns 1,178 shares in the company, valued at approximately $1,348,810. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Peter N. Witty sold 205 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $1,136.80, for a total transaction of $233,044.00. Following the completion of the sale, the insider now owns 2,093 shares of the company’s stock, valued at approximately $2,379,322.40. The disclosure for this sale can be found here. Insiders have sold a total of 2,843 shares of company stock valued at $3,281,398 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new stake in shares of Cable One during the 2nd quarter worth about $3,829,000. Invesco Ltd. increased its holdings in shares of Cable One by 1,218.6% during the 2nd quarter. Invesco Ltd. now owns 105,303 shares of the company’s stock valued at $123,309,000 after acquiring an additional 97,317 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Cable One by 13.7% during the 2nd quarter. Private Advisor Group LLC now owns 913 shares of the company’s stock valued at $1,069,000 after acquiring an additional 110 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Cable One by 5.0% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 41,033 shares of the company’s stock valued at $48,049,000 after acquiring an additional 1,936 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Cable One by 0.4% during the 2nd quarter. BlackRock Inc. now owns 431,907 shares of the company’s stock valued at $505,760,000 after acquiring an additional 1,900 shares during the last quarter. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on the stock. B. Riley restated a “buy” rating and issued a $1,250.00 price target (up previously from $1,090.00) on shares of Cable One in a report on Tuesday, June 4th. Wolfe Research upgraded shares of Cable One from an “underperform” rating to a “peer perform” rating in a report on Tuesday, July 23rd. Stephens assumed coverage on shares of Cable One in a report on Wednesday, June 26th. They issued an “equal weight” rating and a $1,200.00 price target for the company. SunTrust Banks boosted their price target on shares of Cable One to $1,020.00 and gave the company a “hold” rating in a report on Friday, May 10th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Cable One from a “buy” rating to a “hold” rating in a report on Monday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $1,219.00.

About Cable One

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.

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