Legacy Wealth Asset Management LLC Invests $662,000 in CAE Inc. (NYSE:CAE)

Legacy Wealth Asset Management LLC acquired a new position in CAE Inc. (NYSE:CAE) (TSE:CAE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 35,294 shares of the aerospace company’s stock, valued at approximately $662,000.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in shares of CAE by 15.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 33,901 shares of the aerospace company’s stock valued at $637,000 after acquiring an additional 4,621 shares during the period. Stanley Laman Group Ltd. grew its position in shares of CAE by 6.7% during the 3rd quarter. Stanley Laman Group Ltd. now owns 224,392 shares of the aerospace company’s stock valued at $4,207,000 after acquiring an additional 14,169 shares during the period. Nexus Investment Management ULC increased its stake in shares of CAE by 2.8% in the 3rd quarter. Nexus Investment Management ULC now owns 1,486,990 shares of the aerospace company’s stock valued at $27,950,000 after purchasing an additional 40,000 shares in the last quarter. NBC Securities Inc. increased its position in shares of CAE by 17.5% in the third quarter. NBC Securities Inc. now owns 18,521 shares of the aerospace company’s stock valued at $347,000 after buying an additional 2,752 shares in the last quarter. Finally, Maven Securities LTD raised its stake in shares of CAE by 25.0% during the 2nd quarter. Maven Securities LTD now owns 50,000 shares of the aerospace company’s stock worth $929,000 after buying an additional 10,000 shares during the period. Hedge funds and other institutional investors own 67.36% of the company’s stock.

Wall Street Analyst Weigh In

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

CAE Stock Performance

Shares of CAE stock opened at $18.57 on Friday. The stock has a market cap of $5.92 billion, a PE ratio of -25.78, a P/E/G ratio of 1.33 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. CAE Inc. has a 1 year low of $15.95 and a 1 year high of $23.24. The stock has a fifty day moving average price of $18.16 and a 200 day moving average price of $18.58.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings data on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. CAE had a negative net margin of 7.38% and a positive return on equity of 5.96%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that CAE Inc. will post 0.86 earnings per share 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, 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.