Calamos Asset Management Inc. (CLMS) Shares Down 2.5%
Calamos Asset Management Inc. (NASDAQ:CLMS) was down 2.5% during mid-day trading on Thursday . The company traded as low as $7.06 and last traded at $7.12, with a volume of 78,377 shares changing hands. The stock had previously closed at $7.30.
A number of equities research analysts have issued reports on CLMS shares. Zacks Investment Research cut shares of Calamos Asset Management from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Keefe, Bruyette & Woods lowered their target price on shares of Calamos Asset Management from $7.25 to $6.75 and set a “market perform” rating on the stock in a report on Friday, July 29th. 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 target price on the stock.
The firm has a market cap of $144.53 million and a price-to-earnings ratio of 1760.00. The stock’s 50 day moving average price is $7.13 and its 200 day moving average price is $7.86.
Calamos Asset Management (NASDAQ:CLMS) last posted its quarterly earnings results on Thursday, July 28th. The closed-end fund reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.09. The firm had revenue of $48.27 million for the quarter, compared to analysts’ expectations of $50.19 million. During the same quarter in the previous year, the company earned $0.21 EPS. The company’s quarterly revenue was down 20.0% compared to the same quarter last year. Equities analysts forecast that Calamos Asset Management Inc. will post $0.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.52%. The ex-dividend date of this dividend was Friday, August 5th.
In other news, insider John P. Sr Calamos, Sr. purchased 13,751 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were purchased at an average price of $7.19 per share, for a total transaction of $98,869.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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