Calamos Asset Management Inc. (CLMS) Sees Strong Trading Volume
Calamos Asset Management Inc. (NASDAQ:CLMS) saw unusually-strong trading volume on Monday . Approximately 74,033 shares were traded during trading, an increase of 8% from the previous session’s volume of 68,599 shares.The stock last traded at $7.01 and had previously closed at $6.96.
Several equities analysts recently issued reports on CLMS shares. Zacks Investment Research raised shares of Calamos Asset Management from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, April 13th. Keefe, Bruyette & Woods raised shares of Calamos Asset Management from an “underperform” rating to a “market perform” rating and cut their price objective for the company from $8.50 to $7.50 in a report on Monday, June 20th. Finally, Credit Suisse Group AG started coverage on shares of Calamos Asset Management in a report on Thursday, July 14th. They set an “underperform” rating and a $6.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.44.
The stock’s market cap is $117.19 million. The stock has a 50-day moving average of $7.16 and a 200-day moving average of $8.12.
Calamos Asset Management (NASDAQ:CLMS) last posted its quarterly earnings results on Thursday, July 28th. The closed-end fund reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.09. During the same period last year, the company earned $0.21 EPS. The firm earned $48.27 million during the quarter, compared to analysts’ expectations of $50.19 million. The business’s quarterly revenue was down 20.0% on a year-over-year basis. On average, equities research analysts anticipate that Calamos Asset Management Inc. will post $0.13 EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th will be paid a $0.15 dividend. The ex-dividend date is Friday, August 5th.
In other news, major shareholder John P. Sr Calamos, Sr. purchased 12,437 shares of the company’s stock in a transaction dated 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 purchase, the insider now directly owns 1,393,919 shares in the company, valued at approximately $10,872,568.20. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
An institutional investor recently raised its position in Calamos Asset Management stock. First Trust Advisors LP raised its position in Calamos Asset Management Inc. (NASDAQ:CLMS) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,418 shares of the closed-end fund’s stock after buying an additional 3,558 shares during the period. First Trust Advisors LP owned approximately 0.78% of Calamos Asset Management worth $1,553,000 at the end of the most recent quarter.
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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