Calamos Asset Management Inc. (NASDAQ:CLMS) shares traded down 3.2% during trading on Friday . The company traded as low as $6.88 and last traded at $7.07, with a volume of 56,258 shares trading hands. The stock had previously closed at $7.30.

A number of research analysts have recently commented on the company. Zacks Investment Research cut Calamos Asset Management from a “hold” rating to a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods raised Calamos Asset Management from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $8.50 to $7.50 in a research report on Monday, June 20th. Finally, Credit Suisse Group AG assumed coverage on Calamos Asset Management in a research report on Thursday. They set an “underperform” rating and a $6.00 price target on the stock. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company has an average rating of “Sell” and an average price target of $7.63.

The stock has a 50 day moving average price of $7.35 and a 200 day moving average price of $8.35. The company has a market cap of $144.74 million and a price-to-earnings ratio of 71.21.

Calamos Asset Management (NASDAQ:CLMS) last announced its quarterly earnings data on Tuesday, April 26th. The closed-end fund reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. During the same quarter in the previous year, the firm posted $0.17 EPS. The company had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $52.40 million. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. Equities analysts expect that Calamos Asset Management Inc. will post $0.16 earnings per share for the current fiscal year.

In other Calamos Asset Management news, major shareholder John P. Sr Calamos, Sr. bought 12,437 shares of Calamos Asset Management stock in a transaction on Wednesday, May 25th. The stock was acquired at an average price of $7.80 per share, with a total value of $97,008.60. Following the acquisition, the insider now owns 1,393,919 shares in the company, valued at $10,872,568.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

A hedge fund recently raised its stake in Calamos Asset Management stock. Gamco Investors INC. ET AL increased its stake in shares of Calamos Asset Management Inc. (NASDAQ:CLMS) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,000 shares of the closed-end fund’s stock after buying an additional 5,000 shares during the period. Gamco Investors INC. ET AL owned about 0.83% of Calamos Asset Management worth $1,655,000 as of its most recent SEC filing.

Calamos Asset Management, Inc is a holding company. The Company is the manager of Calamos Investments LLC, which owns and manages its operating companies. The Company provides investment advisory services to individuals and institutional investors through investment products that include open-end and closed-end funds (Funds), an exchange traded fund, separate accounts, offshore funds and partnerships.

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