Renaissance Technologies LLC Has $2.34 Million Stock Position in CAE Inc. (NYSE:CAE)

Renaissance Technologies LLC cut its holdings in CAE Inc. (NYSE:CAE) (TSE:CAE) by 63.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 125,800 shares of the aerospace company’s stock after selling 219,346 shares during the quarter. Renaissance Technologies LLC’s holdings in CAE were worth $2,337,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its holdings in CAE by 142.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 707 shares during the period. Ridgewood Investments LLC bought a new stake in shares of CAE in the second quarter valued at approximately $33,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of CAE by 86.2% in the first 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 period. Jones Financial Companies Lllp grew its position in CAE by 3,712.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,783 shares of the aerospace company’s stock worth $60,000 after buying an additional 2,710 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in CAE during the 1st quarter worth $77,000. 67.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CAE. Morgan Stanley lowered CAE from an “overweight” rating to an “equal weight” rating in a report on Friday, August 16th. Jefferies Financial Group initiated coverage on shares of CAE in a research note on Thursday, June 6th. They set a “hold” rating and a $21.00 price objective on the stock. StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Royal Bank of Canada upgraded CAE from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.00.

CAE Stock Down 0.7 %

Shares of NYSE:CAE opened at $18.62 on Wednesday. CAE Inc. has a 52-week low of $15.95 and a 52-week high of $23.62. The company has a market capitalization of $5.94 billion, a PE ratio of -25.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.89. The company has a fifty day moving average of $17.67 and a 200-day moving average of $18.76.

CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts predict that CAE Inc. will post 0.86 EPS for the current fiscal year.

CAE 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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.