Cresset Asset Management LLC Acquires 57,373 Shares of CAE Inc $CAE

Key Points

• Cresset Asset Management LLC increased its stake in CAE Inc by 10.8%, acquiring an additional 57,373 shares, bringing its total ownership to 589,884 shares valued at approximately $14.5 million.
• Institutional investors collectively own 67.36% of CAE's stock, with notable increases in holdings from firms like LPL Financial and Barclays PLC.
• CAE's stock has been rated with a mix of "strong buy," "buy," and "hold" by various analysts, leading to an average rating of "Moderate Buy" with a consensus price target of $33.67.

Cresset Asset Management LLC increased its position in CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 10.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,884 shares of the aerospace company's stock after acquiring an additional 57,373 shares during the quarter. Cresset Asset Management LLC owned about 0.18% of CAE worth $14,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of CAE by 12.8% in the 1st quarter. American Century Companies Inc. now owns 2,964,515 shares of the aerospace company's stock valued at $72,885,000 after acquiring an additional 337,118 shares in the last quarter. OneAscent Investment Solutions LLC purchased a new stake in CAE in the first quarter valued at approximately $749,000. Neuberger Berman Group LLC bought a new stake in CAE during the first quarter valued at approximately $263,000. Gulf International Bank UK Ltd grew its stake in CAE by 3,142.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 17,801 shares of the aerospace company's stock worth $438,000 after buying an additional 17,252 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of CAE by 25.8% in the 1st quarter. Russell Investments Group Ltd. now owns 128,923 shares of the aerospace company's stock worth $3,166,000 after buying an additional 26,413 shares during the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Cibc World Mkts raised CAE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. CIBC reiterated a "neutral" rating on shares of CAE in a research report on Thursday, May 15th. Jefferies Financial Group restated a "hold" rating and set a $30.00 price target on shares of CAE in a research report on Monday, July 21st. Scotiabank reissued an "outperform" rating on shares of CAE in a research note on Thursday, August 14th. Finally, The Goldman Sachs Group initiated coverage on CAE in a research report on Monday, June 30th. They set a "buy" rating and a $33.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $33.67.

CAE Trading Down 1.6%

Shares of NYSE:CAE traded down $0.4240 on Wednesday, hitting $26.7960. The company had a trading volume of 657,613 shares, compared to its average volume of 574,924. CAE Inc has a 1 year low of $17.34 and a 1 year high of $30.13. The company has a quick ratio of 0.60, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm's 50-day simple moving average is $28.33 and its two-hundred day simple moving average is $25.90. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 29.13, a P/E/G ratio of 2.34 and a beta of 1.34.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last posted its quarterly earnings data on Tuesday, August 12th. The aerospace company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. CAE had a return on equity of 7.92% and a net margin of 8.70%.The business had revenue of $806.92 million for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the firm posted $0.21 EPS. Equities analysts anticipate that CAE Inc will post 0.83 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.