Shares of Calamos Asset Management Inc. (NASDAQ:CLMS) fell 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 traded. The stock had previously closed at $7.30.

A number of research firms recently commented on CLMS. Credit Suisse Group AG began coverage on shares of Calamos Asset Management in a research note on Thursday. They issued an “underperform” rating and a $6.00 target price for the company. Zacks Investment Research cut shares of Calamos Asset Management from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Finally, Keefe, Bruyette & Woods upgraded shares of Calamos Asset Management from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $8.50 to $7.50 in a research note on Monday, June 20th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock currently has an average rating of “Sell” and a consensus price target of $7.63.

The firm has a market capitalization of $144.74 million and a price-to-earnings ratio of 71.21. The company’s 50 day moving average is $7.33 and its 200 day moving average is $8.33.

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

In other Calamos Asset Management news, major shareholder John P. Sr Calamos, Sr. purchased 12,437 shares of Calamos Asset Management stock in a transaction dated Wednesday, May 25th. The shares were acquired at an average price of $7.80 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

A hedge fund recently raised its stake in Calamos Asset Management stock. First Trust Advisors LP raised its stake in Calamos Asset Management Inc. (NASDAQ:CLMS) by 2.3% during the fourth quarter, according to its most recent 13F filing with the 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 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.