Lafayette Investments Inc. Sells 76 Shares of Cable One, Inc. (NYSE:CABO)

Lafayette Investments Inc. trimmed its stake in shares of Cable One, Inc. (NYSE:CABO) by 4.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,594 shares of the company’s stock after selling 76 shares during the quarter. Lafayette Investments Inc.’s holdings in Cable One were worth $558,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CABO. Versant Capital Management Inc increased its holdings in Cable One by 452.4% in the 2nd quarter. Versant Capital Management Inc now owns 116 shares of the company’s stock worth $41,000 after purchasing an additional 95 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Cable One in the 2nd quarter worth about $45,000. GAMMA Investing LLC increased its holdings in Cable One by 964.3% in the 2nd quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock worth $53,000 after purchasing an additional 135 shares in the last quarter. Innealta Capital LLC acquired a new position in Cable One in the 2nd quarter worth about $65,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cable One in the second quarter valued at about $72,000. 89.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Cable One Stock Performance

Shares of CABO traded up $1.23 on Thursday, reaching $347.84. 7,326 shares of the company’s stock traded hands, compared to its average volume of 103,892. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.87. The stock has a market cap of $1.95 billion, a PE ratio of 7.94 and a beta of 0.84. The stock’s 50 day simple moving average is $345.71 and its two-hundred day simple moving average is $364.98. Cable One, Inc. has a 52-week low of $311.28 and a 52-week high of $618.44.

Cable One (NYSE:CABO) last released its earnings results on Thursday, August 1st. The company reported $8.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.36 by ($2.20). Cable One had a return on equity of 12.04% and a net margin of 15.31%. The firm had revenue of $394.46 million during the quarter, compared to analysts’ expectations of $400.64 million. During the same period in the prior year, the business earned $10.43 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, analysts forecast that Cable One, Inc. will post 30.99 earnings per share for the current fiscal year.

Cable One Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Tuesday, August 27th. Cable One’s dividend payout ratio is 27.02%.

Cable One Profile

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.