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What Makes Cable One (CABO) an Attractive Investment Opportunity?

Jul 25, 2023Jul 25, 2023

The London Company, an investment management company, released “The London Company Small Cap Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. US stocks performed well in Q2, with the majority of the gain generated in the month of June. In the second quarter, the fund returned 2.5% gross (2.3% net) during the quarter compared to a 5.2% return for the Russell 2000 Index. Both sector exposure & stock selection were headwinds in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

The London Company Small Cap Strategy highlighted stocks like Cable One, Inc. (NYSE:CABO) in the second quarter 2023 investor letter. Headquartered in Phoenix, Arizona, Cable One, Inc. (NYSE:CABO) is a data, video, and voice services provider. On August 2, 2023, Cable One, Inc. (NYSE:CABO) stock closed at $730.57 per share. One-month return of Cable One, Inc. (NYSE:CABO) was 12.33%, and its shares lost 48.99% of their value over the last 52 weeks. Cable One, Inc. (NYSE:CABO) has a market capitalization of $4.151 billion.

The London Company Small Cap Strategy made the following comment about Cable One, Inc. (NYSE:CABO) in its second quarter 2023 investor letter:

"Initiated: Cable One, Inc. (NYSE:CABO) - CABO provides internet, video, and phone services to residential and business customers, but is primarily focused on high-speed broadband connectivity in rural markets with limited competition and/or inferior DSL technology. The quality of its network allows CABO to deploy faster residential internet speeds than most of their competitors, and it has ample unused network capacity, providing runway for increases in data consumption over time. We believe CABO is an excellent broadband operator with superior profitability than its peers. Its utility-like service offers great defensive characteristics; meanwhile, it has an attractive growth profile, consistent cash flow generation & strong returns on invested capital."


Cable One, Inc. (NYSE:CABO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Cable One, Inc. (NYSE:CABO) at the end of first quarter which was 27 in the previous quarter.

We discussed Cable One, Inc. (NYSE:CABO) in another article and shared the list of best low float stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.

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