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Redpoint Investment Management Pty Ltd increases its stake in Cable One, Inc. (NYSE: CABO)


Redpoint Investment Management Pty Ltd increased its stake in the shares of Cable One, Inc. (NYSE: CABO – Get Rating) by 80.3% in the first quarter, according to the company in its latest Form 13F filing with the Securities & Exchange Commission. The company held 283 shares of the company after purchasing an additional 126 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Cable One were worth $414,000 when it last filed with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Cable One by 5.4% during the fourth quarter. BlackRock Inc. now owns 736,160 shares of the company worth $1,298,179,000 after purchasing an additional 37,780 shares during the period. Rothschild & Co Wealth Management UK Ltd increased its equity stake in Cable One by 0.8% in the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 175,439 shares in the company valued at $309,378,000 after buying an additional 1,388 shares in the last quarter. State Street Corp increased its holdings of Cable One stock by 1.6% during the fourth quarter. State Street Corp now owns 173,750 shares of the company valued at $306,399,000 after buying 2,748 additional shares in the last quarter. Capital International Investors increased its equity stake in Cable One by 0.3% during the fourth quarter. Capital International Investors now owns 116,782 shares of the company valued at $206,079,000 after buying 371 additional shares in the last quarter. Finally, Gardner Russo & Quinn LLC increased its equity stake in Cable One by 3.5% in the 4th quarter. Gardner Russo & Quinn LLC now owns 90,821 shares of the company valued at $160,158,000 after purchasing an additional 3,090 shares in the last quarter. Institutional investors hold 89.51% of the company’s shares.

NYSE CABO opened at $1,266.56 on Friday. The company has a debt ratio of 1.96, a current ratio of 1.87 and a quick ratio of 1.87. The stock’s fifty-day moving average price is $1,233.00 and its 200-day moving average price is $1,439.89. Cable One, Inc. has a 1-year low of $1,049.81 and a 1-year high of $2,136.14. The company has a market capitalization of $7.59 billion, a price-earnings ratio of 20.30 and a beta of 0.73.

Cable One (NYSE: CABO – Get Rating) last released its results on Thursday, May 5. The company reported earnings per share (EPS) of $26.85 for the quarter, beating the consensus estimate of $12.03 by $14.82. Cable One achieved a return on equity of 22.11% and a net margin of 23.34%. The company posted revenue of $426.70 million for the quarter, versus a consensus estimate of $427.97 million. During the same period of the previous year, the company achieved EPS of $11.19. The company’s revenue increased 25.0% year over year. Research analysts expect Cable One, Inc. to post earnings per share of 67.72 for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 17. Investors of record on Tuesday, May 31 received a dividend of $2.75. This represents an annualized dividend of $11.00 and a dividend yield of 0.87%. The ex-dividend date was Friday, May 27. Cable One’s payout rate is 17.63%.

Separately, director Thomas Sinnickson Gayner purchased 50 shares of the company in a trade on Wednesday, May 25. The shares were purchased at an average cost of $1,257.97 per share, with a total value of $62,898.50. Following the transaction, the director now owns 7,469 shares of the company, valued at $9,395,777.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, insider Christopher D. Boone sold 131 shares in a trade dated Thursday, May 26. The stock was sold at an average price of $1,280.00, for a total value of $167,680.00. Following the sale, the insider now directly owns 1,047 shares of the company, valued at $1,340,160. The disclosure of this sale can be found here. 1.20% of the shares are currently held by insiders of the company.

Several brokerages have recently commented on CABO. StockNews.com began covering Cable One in a report on Thursday, March 31. They set a “holding” rating for the company. Truist Financial raised its price target on Cable One from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a Friday, June 10 report. KeyCorp cut its price target on Cable One from $2,326.00 to $1,896.00 in a Friday, May 6 report. Finally, Wells Fargo & Company cut its price target on Cable One from $2,100.00 to $1,800.00 in a Friday, May 6 report. Two investment analysts gave the stock a hold rating and four gave the company a buy rating. Based on MarketBeat data, Cable One currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,866.00.

One Profile Cable (Get an evaluation)

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 improve Wi-Fi signal throughout the home. It also provides home video services, such as local area networks; local community programming that includes government and public access; and other channels, as well as digital video services, including national and regional cable networks, music channels, and an interactive, electronic program guide with parental controls.

Further reading

Want to see which other hedge funds hold CABO? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Cable One, Inc. (NYSE: CABO – Get Rating).

Institutional ownership by quarter for Cable One (NYSE: CABO)



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