Revenue Update on Calamos Asset Management Inc(NASDAQ:CLMS)

Calamos Asset Management Inc(NASDAQ:CLMS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $48.27M. Analysts estimated a revenue of $50.19M. Earnings per share were $0.14. Analysts had estimated an EPS of $0.06.

In a different note, On Jul 14, 2016, Credit Suisse said it Assumes its rating on Calamos Asset Management Inc. The shares have been rated ‘Underperform’ by the firm. On Jun 20, 2016, Keefe Bruyette & Woods said it Upgrades its rating on Calamos Asset Management Inc. In the research note, the firm Lowers the price-target to $8.50 per share. The shares have been rated ‘Market Perform’ by the firm.

Calamos Asset Management Inc (CLMS) shares turned negative on Thursdays trading session with the shares closing down -0.19 points or -2.54% at a volume of 1,00,040. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.46. The peak price level was also seen at $7.46 while the days lowest was $7.28. Finally the shares closed at $7.28. The 52-week high of the shares is $12.16 while the 52-week low is $6.72. According to the latest information available, the market cap of the company is $149 M.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Robert Behan (President, Head of Global Dist) purchased 0 shares at $7.80 per share price.Also, On May 26, 2016, William N Shiebler (director) purchased 19 shares at $7.80 per share price.On May 26, 2016, Keith M Schappert (director) purchased 19 shares at $7.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Calamos Asset Management Inc. (CAM) is a holding company. The Company is the manager of Calamos Investments LLC which owns and manages its operating companies. The Company primarily provides investment advisory services to individuals and institutional investors through investment products that include open-end funds and closed-end funds (Funds) exchange traded fund separate accounts offshore funds and partnerships. The subsidiaries through which the Company provides these services include Calamos Advisors LLC (CAL) a registered investment advisor; Calamos Financial Services LLC (CFS) a registered broker-dealer; Calamos Wealth Management LLC a registered investment advisor and Calamos Investments LLP formerly known as Calamos International LLP a United Kingdom limited liability partnership registered investment advisor with the Financial Conduct Authority in the United Kingdom and a global distributor of the offshore funds and Company products.

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