Is Cable One (CABO) Trading at An Attractive Discount to Intrinsic Value?

The London Company, an investment management company, released “The London Company Small Cap Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. During Q3, U.S. stocks fell due to rising long-term interest rates, higher energy prices, and the Fed’s message of higher rates for longer. In the third quarter, the fund declined 1.2% (-1.4% net) compared to a 5.1% decrease for the Russell 2000 Index. Both sector exposure and stock selection dragged the performance 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 third quarter 2023 investor letter. Headquartered in Phoenix, Arizona, Cable One, Inc. (NYSE:CABO) is a data, video, and voice services provider. On November 7, 2023, Cable One, Inc. (NYSE:CABO) stock closed at $605.75 per share. One-month return of Cable One, Inc. (NYSE:CABO) was -6.91%, and its shares lost 2.45% of their value over the last 52 weeks. Cable One, Inc. (NYSE:CABO) has a market capitalization of $3.402 billion.

The London Company Small Cap Strategy made the following comment about Cable One, Inc. (NYSE:CABO) in its Q3 2023 investor letter:

“Increased: Cable One, Inc. (NYSE:CABO) – Added to the existing position in CABO reflecting weakness in the shares and our comfort with the long-term thesis. We believe CABO trades at an attractive discount to intrinsic value.”

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

We discussed Cable One, Inc. (NYSE:CABO) in another article and shared the list of best telecommunications stocks to buy. In addition, please check out our hedge fund investor letters Q3 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.