The landscape of Cable One, Inc. (NYSE:CABO) stock is currently shaped by significant movements from institutional investors, reflecting evolving investment strategies within the financial markets. These shifts in large-scale equity holdings often provide crucial insights into market sentiment and potential future performance, drawing keen attention from analysts and individual investors alike.
Among the notable activities, Allianz Asset Management GmbH notably augmented its position in Cable One during the first quarter. The firm expanded its stake by a substantial 17.4%, acquiring an additional 400 shares, which brought its total holdings to 2,700 shares. This increased investment by Allianz, valued at $718,000 as per its most recent SEC filing, underscores a strategic decision regarding the telecommunications company.
Allianz was not alone in adjusting its exposure to Cable One. Several other prominent hedge funds and institutional entities have also either bolstered or reduced their equity stake in the company. For instance, Hussman Strategic Advisors Inc. initiated a new position, valued at approximately $1,116,000, in the first quarter. Kingsview Wealth Management LLC increased its holdings by 19.8%, now owning 28,349 shares worth $7,534,000, while Mraz Amerine & Associates Inc. lifted its stake by 11.3%, holding 6,254 shares valued at $1,675,000.
Further emphasizing the broad institutional interest, Brown Advisory Inc. dramatically increased its Cable One holdings by 47.9%, now controlling 131,576 shares valued at an impressive $34,969,000. Crossmark Global Holdings Inc. also boosted its position by 22.5%, accumulating 1,243 shares worth $330,000. Collectively, these moves illustrate a dynamic environment where a significant majority—89.92%—of Cable One’s stock is currently under the ownership of hedge funds and other institutional investors.
Adding another layer to Cable One’s market narrative, several brokerages have recently issued updated reports and ratings on CABO. BNP Paribas, for example, upgraded Cable One from a “strong sell” rating to a “hold” rating, and later from an “underperform” rating to a “neutral” rating with a $125.00 price objective. Conversely, Raymond James Financial downgraded the stock from an “outperform” to a “market perform” rating, while Wells Fargo & Company decreased their price target and assigned an “underweight” rating. This mixed analytical landscape contributes to the stock’s complex valuation.
From a financial perspective, Cable One opened at $136.89 on a recent Friday, demonstrating fluctuations typical of market volatility. The stock’s fifty-day moving average stood at $136.23, while its 200-day moving average was significantly higher at $215.49, indicating a recent downward trend. With a market capitalization of $770.69 million, a negative price-to-earnings ratio of -1.55, and a beta of 0.80, the company’s financial health presents a multifaceted picture, further characterized by a debt-to-equity ratio of 1.66.
Cable One also recently disclosed its quarterly earnings data, revealing an reported EPS of $3.23, which fell short of the consensus estimate of $8.23. Despite missing EPS expectations, the business reported revenues of $381.07 million for the quarter, slightly exceeding analysts’ expectations. The company experienced a negative net margin of 32.18% but maintained a positive return on equity of 7.84%. Analysts currently forecast that Cable One, Inc. will post an earnings per share of 32.08 for the current year, providing a forward-looking perspective on its profitability.
Adding to the intrigue are recent insider transactions, including significant director acquisitions. A director acquired 250 shares at $148.00 per share, totaling $37,000, increasing their ownership by 7.46%. Another director purchased 7,000 shares at $132.53 per share, amounting to $927,710, boosting their stake by an impressive 69.03%. In total, insiders have purchased 7,400 shares worth $984,342 over the last 90 days, underscoring confidence from within the company’s leadership, with insiders collectively owning 0.90% of the stock.
Cable One, Inc. itself, through its subsidiaries, is a prominent provider of data, video, and voice services across the United States. The company’s offerings range from residential data services with enhanced Wi-Fi signals to diverse residential video services, including cloud-based DVR features, reflecting its core business in the telecommunications sector.
