Calamos Asset Management Inc. (CLMS) Trading Down 2.5%
Calamos Asset Management Inc. (NASDAQ:CLMS) shares fell 2.5% on Thursday . The stock traded as low as $7.06 and last traded at $7.12, with a volume of 78,377 shares traded. The stock had previously closed at $7.30.
Several brokerages recently weighed in on CLMS. Zacks Investment Research lowered Calamos Asset Management from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Keefe, Bruyette & Woods decreased their price target on Calamos Asset Management from $7.25 to $6.75 and set a “market perform” rating on the stock in a research note on Friday, July 29th. Finally, Credit Suisse Group AG began coverage on 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 investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Calamos Asset Management currently has an average rating of “Hold” and an average target price of $7.44.
The stock has a market cap of $146.17 million and a P/E ratio of 1780.00. The company 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 issued its quarterly earnings data on Thursday, July 28th. The closed-end fund reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.09. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The company had revenue of $48.27 million for the quarter, compared to analyst estimates of $50.19 million. The company’s revenue for the quarter was down 20.0% on a year-over-year basis. On average, equities analysts predict that Calamos Asset Management Inc. will post $0.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.60 annualized dividend and a dividend yield of 8.43%.
In related news, insider John P. Sr Calamos, Sr. acquired 13,751 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was purchased at an average cost of $7.19 per share, for a total transaction of $98,869.69. The transaction was disclosed in a legal filing with the SEC, which is available 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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