Keefe Bruyette & Woods Upgrades Calamos Asset Management Inc to Market Perform with Price Target $7.50

Brokerage firm Keefe Bruyette & Woods Upgrades its rating on Calamos Asset Management Inc(NASDAQ:CLMS). In a research note issued to the investors, the brokerage major Lowers the price-target to $7.50 per share. The shares have been rated Market Perform. Previously, the analysts had a Underperform rating on the shares. The rating by Keefe Bruyette & Woods was issued on Jun 20, 2016.

Calamos Asset Management Inc (CLMS) shares turned negative on Fridays trading session with the shares closing down -0.45 points or -5.92% at a volume of 1,55,836. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.3599. The peak price level was also seen at $7.3599 while the days lowest was $7.07. Finally the shares closed at $7.15. The 52-week high of the shares is $12.75 while the 52-week low is $7.01. According to the latest information available, the market cap of the company is $147 M.

Calamos Asset Management Inc(CLMS) last announced its earnings results on Apr 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $48.50M. Analysts had an estimated revenue of $52.40M. Earnings per share were $0.09. Analysts had estimated an EPS of $0.05.

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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