Short Interest in CAE Inc. (NYSE:CAE) Expands By 16.1%

CAE Inc. (NYSE:CAE) (TSE:CAE) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 4,970,000 shares, a growth of 16.1% from the November 30th total of 4,280,000 shares. Based on an average daily volume of 560,800 shares, the days-to-cover ratio is currently 8.9 days. Currently, 1.6% of the shares of the company are sold short.

CAE Stock Performance

CAE stock opened at $25.38 on Wednesday. The company has a market capitalization of $8.09 billion, a P/E ratio of -32.96, a PEG 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. The company has a 50-day simple moving average of $22.01 and a 200 day simple moving average of $19.52. CAE has a fifty-two week low of $15.95 and a fifty-two week high of $25.53.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JARISLOWSKY FRASER Ltd raised its position in CAE by 1.3% in the second quarter. JARISLOWSKY FRASER Ltd now owns 22,249,466 shares of the aerospace company’s stock worth $413,168,000 after acquiring an additional 284,768 shares in the last quarter. Brandes Investment Partners LP raised its holdings in shares of CAE by 103.8% in the 2nd quarter. Brandes Investment Partners LP now owns 11,071,485 shares of the aerospace company’s stock worth $206,027,000 after purchasing an additional 5,640,269 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of CAE by 13.4% in the 3rd quarter. National Bank of Canada FI now owns 6,235,627 shares of the aerospace company’s stock worth $117,023,000 after purchasing an additional 736,895 shares in the last quarter. Bank of Montreal Can lifted its stake in CAE by 1.6% during the third quarter. Bank of Montreal Can now owns 5,057,860 shares of the aerospace company’s stock valued at $93,446,000 after purchasing an additional 77,489 shares during the last quarter. Finally, Earnest Partners LLC acquired a new position in CAE in the second quarter worth approximately $82,597,000. Institutional investors and hedge funds own 67.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.