The London Company, an investment management company, released “The London Company Small Cap Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, US stocks experienced a significant surge, causing major indices to record double-digit gains. In the quarter, the fund returned 11.9% (11.7% net) compared to a 14% increase in the Russell 2000 Index. 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 featured stocks such as Cable One, Inc. (NYSE:CABO) in the Q4 2023 investor letter. Headquartered in Phoenix, Arizona, Cable One, Inc. (NYSE:CABO) is a data, video, and voice services provider. On February 7, 2024, Cable One, Inc. (NYSE:CABO) stock closed at $491.05 per share. One-month return of Cable One, Inc. (NYSE:CABO) was -12.17%, and its shares lost 37.53% of their value over the last 52 weeks. Cable One, Inc. (NYSE:CABO) has a market capitalization of $2.758 billion.
The London Company Small Cap Strategy stated the following regarding Cable One, Inc. (NYSE:CABO) in its fourth quarter 2023 investor letter:
“Cable One, Inc. (NYSE:CABO) – The market environment remains challenging for CABO with lower move activity and greater competition from fixed wireless offerings. Despite muted subscriber trends, CABO continues to generate profitable growth for its broadband service. Management appears disciplined in striking an appropriate balance between pricing and incremental penetration, while prioritizing free cash flow generation. CABO is well positioned as an advantaged provider of high-speed internet in rural markets. We believe its relatively low penetration, superior service, and M&A prowess are supportive of long-term earnings growth.”
A person at home displaying a vibrant media streaming interface, being rendered on a large flatscreen television.
Cable One, Inc. (NYSE:CABO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Cable One, Inc. (NYSE:CABO) at the end of third quarter which was 27 in the previous quarter.
We discussed Cable One, Inc. (NYSE:CABO) in another article and shared Heartland Mid Cap Value Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.
