Calamos Asset Management Inc. (CLMS) Stock Price Up 5.7%
Calamos Asset Management Inc. (NASDAQ:CLMS) shares rose 5.7% on Wednesday . The company traded as high as $7.47 and last traded at $7.47, with a volume of 105,565 shares trading hands. The stock had previously closed at $7.07.
CLMS has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of 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 shares of 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 note on Monday, June 20th. Finally, Credit Suisse Group AG began coverage on shares of Calamos Asset Management in a research note on Thursday, July 14th. They set an “underperform” rating and a $6.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.44.
The company’s 50 day moving average price is $7.15 and its 200 day moving average price is $8.10. The firm’s market cap is $153.36 million.
Calamos Asset Management (NASDAQ:CLMS) last issued its earnings results on Thursday, July 28th. The closed-end fund reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.09. The firm earned $48.27 million during the quarter, compared to the consensus estimate of $50.19 million. The company’s quarterly revenue was down 20.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. On average, equities analysts predict that Calamos Asset Management Inc. will post $0.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly 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. This represents a $0.60 annualized dividend and a dividend yield of 8.03%.
In other news, major shareholder John P. Sr Calamos, Sr. bought 12,437 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were purchased at an average price of $7.80 per share, for a total transaction of $97,008.60. Following the completion of the purchase, the insider now owns 1,393,919 shares in the company, valued at approximately $10,872,568.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
An institutional investor recently raised its position in Calamos Asset Management stock. First Trust Advisors LP increased its position in shares of Calamos Asset Management Inc. (NASDAQ:CLMS) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 reporting period.
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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