Short Interest in CAE Inc. (NYSE:CAE) Rises By 7.6%

CAE Inc. (NYSE:CAE) (TSE:CAE) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,530,000 shares, a growth of 7.6% from the September 30th total of 3,280,000 shares. Based on an average daily trading volume, of 602,100 shares, the short-interest ratio is currently 5.9 days. Currently, 1.1% of the company’s stock are short sold.

Institutional Trading of CAE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAE. Ridgewood Investments LLC acquired a new stake in CAE in the 2nd quarter valued at approximately $33,000. Cromwell Holdings LLC grew its holdings in CAE by 103.4% in the 3rd quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company’s stock valued at $34,000 after buying an additional 915 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in CAE by 86.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock valued at $48,000 after buying an additional 1,100 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in CAE in the 1st quarter valued at approximately $77,000. Finally, UniSuper Management Pty Ltd grew its holdings in CAE by 104.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 4,500 shares of the aerospace company’s stock valued at $93,000 after buying an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 67.36% of the company’s stock.

CAE Trading Down 6.3 %

Shares of NYSE CAE opened at $17.60 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.89 and a quick ratio of 0.61. The business’s 50-day simple moving average is $18.22 and its 200-day simple moving average is $18.55. CAE has a 52 week low of $15.95 and a 52 week high of $23.24.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings data on Tuesday, August 13th. The aerospace company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, analysts forecast that CAE will post 0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAE. Royal Bank of Canada raised CAE from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 15th. StockNews.com downgraded CAE from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Morgan Stanley downgraded CAE from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.00.

About CAE

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.