CAE Inc. (NYSE:CAE) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 49.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 391,547 shares of the aerospace company’s stock after selling 380,416 shares during the quarter. CIBC Asset Management Inc owned about 0.12% of CAE worth $7,354,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board increased its stake in shares of CAE by 9.5% during the second quarter. Canada Pension Plan Investment Board now owns 1,033,296 shares of the aerospace company’s stock valued at $19,188,000 after acquiring an additional 89,800 shares during the period. Stanley Laman Group Ltd. boosted its holdings in CAE by 20.1% during the second quarter. Stanley Laman Group Ltd. now owns 210,223 shares of the aerospace company’s stock worth $3,906,000 after buying an additional 35,222 shares in the last quarter. Clearline Capital LP bought a new stake in CAE during the second quarter worth approximately $2,290,000. Jane Street Group LLC boosted its holdings in CAE by 97.2% during the first quarter. Jane Street Group LLC now owns 305,191 shares of the aerospace company’s stock worth $6,299,000 after buying an additional 150,429 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in CAE by 3.8% during the third quarter. Pinnacle Associates Ltd. now owns 874,588 shares of the aerospace company’s stock worth $16,399,000 after buying an additional 32,328 shares in the last quarter. Institutional investors and hedge funds own 67.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CAE shares. StockNews.com upgraded shares of CAE from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley cut shares of CAE from an “overweight” rating to an “equal weight” rating in a report on Friday, August 16th. Finally, Royal Bank of Canada upgraded shares of CAE from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.00.

CAE Trading Down 1.1 %

CAE stock opened at $21.75 on Monday. The company has a 50 day moving average price of $18.61 and a 200 day moving average price of $18.58. CAE Inc. has a 52 week low of $15.95 and a 52 week high of $22.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.61 and a current ratio of 0.84. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of -28.25, a P/E/G ratio of 1.61 and a beta of 1.67.

CAE Company Profile

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.