Calamos Asset Management Cut to "Hold" at TheStreet (CLMS)

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TheStreet downgraded shares of Calamos Asset Management (NASDAQ:CLMS) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Market Beat Ratings reports.

Several other brokerages have also commented on CLMS. Keefe, Bruyette Woods lowered their target price on shares of Calamos Asset Management from $13.00 to $12.50 and set an underperform rating on the stock in a research report on Friday, May 1st. Credit Agricole began coverage on shares of Calamos Asset Management in a research report on Wednesday, June 3rd. They issued an underperform rating and a $11.00 price objective on the stock. Credit Suisse initiated coverage on Calamos Asset Management in a report on Wednesday, June 3rd. They issued an underperform rating and a $11.00 target price for the company. Finally, Zacks downgraded Calamos Asset Management from a hold rating to a sell rating in a research note on Tuesday, July 14th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Calamos Asset Management presently has an average rating of Sell and an average target price of $11.50.

Calamos Asset Management (NASDAQ:CLMS) opened at 10.61 on Tuesday. The firm has a market capitalization of $217.82 million and a PE ratio of 19.54. Calamos Asset Management has a 1-year low of $10.00 and a 1-year high of $14.44. The company has a 50 day moving average of $11.73 and a 200 day moving average of $12.34.

Calamos Asset Management (NASDAQ:CLMS) last issued its earnings results on Tuesday, July 28th. The closed-end fund reported $0.21 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.08. During the same period last year, the business earned $0.22 EPS. The firm earned $60.40 million during the quarter, compared to analyst estimates of $59.69 million. The firm’s revenue was down 4.1% compared to the same quarter last year. Analysts forecast that Calamos Asset Management will post $0.40 EPS for the current year.

The company also recently declared a dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, August 6th.

In other Calamos Asset Management news, CEO John P. Sr Calamos, Sr. bought 6,993 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were bought at an average cost of $10.48 per share, with a total value of $73,286.64. Following the transaction, the chief executive officer now directly owns 1,142,075 shares in the company, valued at approximately $11,968,946. The transaction was disclosed in a filing with the Securities Exchange Commission, which is accessible through this link. Also, CEO Calamos Asset Management, Inc. bought 17,990 shares of the business’s stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $11.99 per share, for a total transaction of $215,700.10. The disclosure for this purchase can be found here.

Calamos Asset Management, Inc. (NASDAQ:CLMS) is a holding company. As of December 31, 2011, the Company owned 21.9% interest in Calamos Investments LLC (Calamos Investments). CAM, together with Calamos Investments and Calamos Investments’ subsidiaries, operates the investment advisory and distribution services businesses. The Company primarily provides investment advisory services to individuals and institutional investors through a series of investment products that include open-end and closed-end funds (Funds), separate accounts, offshore funds and partnerships. The subsidiaries through which the Company provides these services include: Calamos Advisors LLC (CAL), an investment advisor; Calamos Financial Services LLC (CFS); Calamos Wealth Management LLC, an investment advisor, and Calamos International LLP, an investment advisor and a global distributor of the Offshore Funds and Company products.

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Saturday, August 29th, 2015 EN

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