Is CAE, Inc. (USA) (CAE) A Good Stock To Buy Right Now?

As one would reasonably expect, key hedge funds have jumped into CAE, Inc. (USA) (NYSE:CAE) headfirst. PDT Partners, another quant hedge fund led by Peter Muller, established the most valuable position in CAE, Inc. (USA) (NYSE:CAE). PDT Partners had $0.8 million invested in the company at the end of the quarter. Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital also initiated a $0 million position during the quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as CAE, Inc. (USA) (NYSE:CAE) but similarly valued. These stocks are Allied World Assurance Co Holdings, AG. (NYSE:AWH), Prosperity Bancshares, Inc. (NYSE:PB), CyrusOne Inc (NASDAQ:CONE), and Vanguard International Equity Index Funds(NASDAQ:VNQI). This group of stocks’ market valuations are closest to CAE’s market valuation.

As you can see these stocks had an average of 15.75 hedge funds with bullish positions and the average amount invested in these stocks was $169 million. That figure was $26 million in CAE’s case. CyrusOne Inc (NASDAQ:CONE) is the most popular stock in this table. On the other hand Vanguard International Equity Index Funds(NASDAQ:VNQI) is the least popular one with only 4 bullish hedge fund positions. CAE, Inc. (USA) (NYSE:CAE) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CONE might be a better candidate to consider taking a long position in.