Headwaters Capital Management, an investment management firm, has released its third quarter 2022 letter to investors. A copy of it may be downloaded here. In the third quarter, the fund’s portfolio gained 1.6% net against a decline of -3.4% for the Russell Mid Cap index. The portfolio’s outperformance in the third quarter was attributed to stock selection. Additionally, you can check out the fund’s top 5 holdings for its top picks in 2022.
Headwaters Capital discussed stocks like Cable One, Inc. (NYSE:CABO) in the Third Quarter 2022 Letter to Investors. Based in Phoenix, Arizona, Cable One, Inc. (NYSE: CABO) is a United States-based provider of video, data and voice services. On October 25, 2022, shares of Cable One, Inc. (NYSE: CABO) closed at $800.99 per share. Cable One, Inc.’s (NYSE:CABO) one-month return was -11.45% and its shares have lost 54.66% of their value over the past 52 weeks. Cable One, Inc. (NYSE: CABO) has a market capitalization of $4.709 billion.
Headwaters Capital made the following comment about Cable One, Inc. (NYSE: CABO) in its third quarter 2022 letter to investors:
“Best Detractor: Cable One, Inc. (NYSE: CABO) -34%. Cable One’s share price fell -34% in the quarter as investor fears over competition in the broadband market led to a large multiple squeeze in the stock. CABO’s fundamentals continue to be healthy, but with a deceleration in net broadband additions. While this slower pace of customer additions was expected following the surge in new COVID subscribers, investors are grappling with the ability of ACAB and the broadband industry as a whole to generate a future subscriber growth given new competition from 5G wireless, government subsidized broadband investment and even new players such as Starlink. I believe ACAB remains more isolated than most players given that its largely rural footprint makes it less exposed to many competitive industry threats. »
Copyright: kadmy / 123RF Stock Photo
Cable One, Inc. (NYSE: CABO) is not on our list of 30 most popular stocks among hedge funds. According to our database, 23 hedge fund portfolios held Cable One, Inc. (NYSE: CABO) at the end of the second quarter, up from 20 in the previous quarter.
We discussed Cable One, Inc. (NYSE: CABO) in another article and shared the list of stocks sold by investing legend Mario Gabelli in the first quarter of 2022. Additionally, please see our Letters to Hedge Fund Investors Q3 2022 page for more letters from hedge fund investors and other leading investors.
Suggested items:
Disclosure: none. This article originally appeared on Insider Monkey.
Comments are closed.