Municipal Employees Retirement System of Michigan decreased its stake in Cable One, Inc. (NYSE:CABO) by 16.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,790 shares of the company’s stock after selling 360 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Cable One were worth $1,273,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CABO. Quantbot Technologies LP bought a new stake in Cable One during the first quarter worth about $115,000. US Bancorp DE raised its position in shares of Cable One by 16.2% in the first quarter. US Bancorp DE now owns 230 shares of the company’s stock worth $144,000 after buying an additional 32 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Cable One by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 307 shares of the company’s stock worth $192,000 after buying an additional 8 shares during the period. World Asset Management Inc acquired a new position in shares of Cable One during the first quarter worth approximately $202,000. Finally, Stonebridge Capital Management Inc. acquired a new position in shares of Cable One during the second quarter worth approximately $213,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.
Cable One, Inc. (NYSE:CABO) traded up 1.07% on Friday, reaching $740.00. The company had a trading volume of 29,101 shares. Cable One, Inc. has a 12 month low of $527.75 and a 12 month high of $788.00. The company’s 50 day moving average price is $740.27 and its 200-day moving average price is $684.01. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 39.74 and a beta of 0.30.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $1.75 per share. This is a boost from Cable One’s previous quarterly dividend of $1.50. This represents a $7.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, August 11th. Cable One’s dividend payout ratio is currently 37.57%.
A number of brokerages have recently commented on CABO. Zacks Investment Research lowered Cable One from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub lowered Cable One from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Raymond James Financial, Inc. raised their price target on Cable One from $785.00 to $815.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, TheStreet raised Cable One from a “c” rating to a “b-” rating in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Cable One has an average rating of “Hold” and an average price target of $693.75.
In other news, SVP Eric Michael Lardy sold 322 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $725.00, for a total transaction of $233,450.00. Following the completion of the transaction, the senior vice president now directly owns 2,542 shares of the company’s stock, valued at $1,842,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Donald Graham sold 800 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $713.45, for a total value of $570,760.00. Following the transaction, the insider now directly owns 246,985 shares of the company’s stock, valued at $176,211,448.25. The disclosure for this sale can be found here. Insiders have sold 9,889 shares of company stock valued at $7,122,222 over the last ninety days. 1.30% of the stock is owned by insiders.
About Cable One
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
What are top analysts saying about Cable One Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cable One Inc. and related companies.