CAE (NYSE:CAE) Stock Price Down 3.2% – Here’s What Happened

CAE Inc. (NYSE:CAE) (TSE:CAE) shares fell 3.2% during trading on Thursday . The stock traded as low as $24.55 and last traded at $24.58. 88,509 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 576,737 shares. The stock had previously closed at $25.38.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cibc World Mkts cut CAE from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Desjardins raised shares of CAE from a “hold” rating to a “buy” rating in a report on Monday, December 23rd. Finally, StockNews.com upgraded shares of CAE from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.00.

CAE Trading Down 4.1 %

The company’s 50 day simple moving average is $22.15 and its two-hundred day simple moving average is $19.56. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of -31.61, a P/E/G ratio of 1.73 and a beta of 1.74. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 0.62.

Hedge Funds Weigh In On CAE

A number of institutional investors have recently modified their holdings of the stock. Cromwell Holdings LLC grew its position in CAE by 103.4% during the third 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 period. Venturi Wealth Management LLC purchased a new position in shares of CAE in the third quarter worth about $74,000. Allworth Financial LP lifted its stake in CAE by 26.1% in the 3rd quarter. Allworth Financial LP now owns 6,408 shares of the aerospace company’s stock worth $120,000 after purchasing an additional 1,327 shares in the last quarter. US Bancorp DE increased its holdings in shares of CAE by 28.9% in the third quarter. US Bancorp DE now owns 8,052 shares of the aerospace company’s stock valued at $151,000 after purchasing an additional 1,803 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in CAE during the third quarter worth approximately $197,000. Hedge funds and other institutional investors own 67.36% of the company’s stock.

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.