Calamos Asset Management Inc. (NASDAQ:CLMS)’s share price rose 2.6% on Monday . The company traded as high as $7.27 and last traded at $7.23, with a volume of 79,431 shares. The stock had previously closed at $7.05.

CLMS has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Calamos Asset Management from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, April 13th. Keefe, Bruyette & Woods upgraded Calamos Asset Management from an “underperform” rating to a “market perform” rating and cut their price objective for the stock from $8.50 to $7.50 in a report on Monday, June 20th. Finally, Credit Suisse Group AG reiterated a “sell” rating on shares of Calamos Asset Management in a report on Sunday. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has an average rating of “Sell” and an average target price of $7.63.

The firm’s 50 day moving average is $7.30 and its 200 day moving average is $8.29. The company has a market capitalization of $146.58 million and a P/E ratio of 72.12.

Calamos Asset Management (NASDAQ:CLMS) last released its earnings results on Tuesday, April 26th. The closed-end fund reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The company had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $52.40 million. During the same quarter last year, the firm posted $0.17 earnings per share. Calamos Asset Management’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, equities analysts predict that Calamos Asset Management Inc. will post $0.16 earnings per share for the current fiscal year.

In related news, major shareholder John P. Sr Calamos, Sr. bought 12,437 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were bought at an average cost of $7.80 per share, for a total transaction of $97,008.60. Following the completion of the transaction, the insider now owns 1,393,919 shares of the company’s stock, valued at $10,872,568.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A hedge fund recently raised its stake in Calamos Asset Management stock. Gamco Investors INC. ET AL raised its position in shares of Calamos Asset Management Inc. (NASDAQ:CLMS) by 3.0% during the fourth quarter, according to its most recent filing with the 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 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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