Calamos Asset Management Inc. (CLMS) Trading 3% Higher
Calamos Asset Management Inc. (NASDAQ:CLMS) shares traded up 3% on Wednesday . The company traded as high as $7.28 and last traded at $7.28, with a volume of 64,016 shares trading hands. The stock had previously closed at $7.07.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Calamos Asset Management from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Keefe, Bruyette & Woods raised shares of Calamos Asset Management from an “underperform” rating to a “market perform” rating and decreased 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 reaffirmed a “sell” rating on shares of Calamos Asset Management in a research note on Sunday, July 17th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $7.44.
The firm has a market cap of $149.87 million and a price-to-earnings ratio of 1825.00. The firm has a 50-day moving average price of $7.13 and a 200-day moving average price of $7.88.
Calamos Asset Management (NASDAQ:CLMS) last announced its earnings results on Thursday, July 28th. The closed-end fund reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.09. During the same period in the previous year, the company posted $0.21 earnings per share. The business earned $48.27 million during the quarter, compared to analysts’ expectations of $50.19 million. Calamos Asset Management’s quarterly revenue was down 20.0% on a year-over-year basis. On average, equities research analysts predict that Calamos Asset Management Inc. will post $0.03 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.22%.
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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