Should You Sell Cable One (CABO) Now?

Headwaters Capital Management, an investment management company, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio gained 7.2% (gross) in the fourth quarter compared to a 9.2% return for the Russell Mid Cap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Headwaters Capital highlighted stocks like Cable One, Inc. (NYSE:CABO) in the Q4 2022 investor letter. Headquartered in Phoenix, Arizona, Cable One, Inc. (NYSE:CABO) is a data, video, and voice services provider. On February 21, 2023, Cable One, Inc. (NYSE:CABO) stock closed at $726.12 per share. One-month return of Cable One, Inc. (NYSE:CABO) was -10.11%, and its shares lost 48.00% of their value over the last 52 weeks. Cable One, Inc. (NYSE:CABO) has a market capitalization of $4.218 billion.

Headwaters Capital made the following comment about Cable One, Inc. (NYSE:CABO) in its Q4 2022 investor letter:

“Sells: Cable One, Inc. (NYSE:CABO): As discussed in the Q3 letter, Cable One is facing heightened competition in its rural broadband markets. Increased competition combined with a mature market leaves little room for significant growth going forward. As a result of the more challenged growth outlook, I made the decision to sell the stock and allocate capital to higher return opportunities.”

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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 the fourth quarter which was 22 in the previous quarter.

We discussed Cable One, Inc. (NYSE:CABO) in another article and shared Headwaters Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2022 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.