Worth Watching: Could Calamos Asset Management, Inc Change Direction After Reaching 52 Week Low?

Worth Watching: Could Calamos Asset Management, Inc Change Direction After Reaching 52 Week Low?

The stock of Calamos Asset Management, Inc (NASDAQ:CLMS) hit a new 52-week low and has $5.81 target or 11.00% below today’s $6.53 share price. The 6 months bearish chart indicates high risk for the $133.86 million company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $5.81 price target is reached, the company will be worth $14.72 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 34,903 shares traded hands. Calamos Asset Management, Inc (NASDAQ:CLMS) has declined 24.10% since March 10, 2016 and is downtrending. It has underperformed by 31.62% the S&P500.

Analysts await Calamos Asset Management, Inc (NASDAQ:CLMS) to report earnings on October, 25. They expect $0.05 earnings per share, down 72.22% or $0.13 from last year’s $0.18 per share. CLMS’s profit will be $1.02M for 32.65 P/E if the $0.05 EPS becomes a reality. After $0.14 actual earnings per share reported by Calamos Asset Management, Inc for the previous quarter, Wall Street now forecasts -64.29% negative EPS growth.

Calamos Asset Management, Inc (NASDAQ:CLMS) Ratings Coverage

Out of 4 analysts covering Calamos Asset Management (NASDAQ:CLMS), 0 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 0 are positive. $10 is the highest target while $7 is the lowest. The $8.63 average target is 32.16% above today’s ($6.53) stock price. Calamos Asset Management has been the topic of 8 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The rating was upgraded by Keefe Bruyette & Woods to “Mkt Perform” on Monday, June 20. On Friday, July 15 the stock rating was reinitiated by Credit Suisse with “Underperform”. The rating was maintained by Wood with “Underperform” on Thursday, September 3. The stock has “Buy” rating given by TheStreet on Thursday, August 27. The rating was upgraded by Wood to “Market Perform” on Monday, June 20.

According to Zacks Investment Research, “Calamos Asset Management, Inc., provides investment advisory services through its subsidiaries to institutions and individuals, principally in the United States. The company applies a proprietary investment process centered on risk management across an expanding range of investment strategies within the equity, balanced, convertible, high yield and alternative investment classes.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.23, from 1.18 in 2016Q1. The ratio dropped, as 13 funds sold all Calamos Asset Management, Inc shares owned while 24 reduced positions. 5 funds bought stakes while 30 increased positions. They now own 11.70 million shares or 1.62% less from 11.89 million shares in 2016Q1.
New York State Teachers Retirement Sys, a New York-based fund reported 62,653 shares. Invesco last reported 0% of its portfolio in the stock. Bancorp Of America Corporation De reported 9,650 shares or 0% of all its holdings. Benjamin F Edwards Co Incorporated last reported 600 shares in the company. Pnc Financial reported 11 shares or 0% of all its holdings. Moreover, Comerica Bank has 0% invested in Calamos Asset Management, Inc (NASDAQ:CLMS) for 17,390 shares. Amer Intl Group has 0% invested in the company for 12,616 shares. Moreover, Ameriprise Fincl has 0% invested in Calamos Asset Management, Inc (NASDAQ:CLMS) for 109,323 shares. Public Employees Retirement Association Of Colorado has invested 0% of its portfolio in Calamos Asset Management, Inc (NASDAQ:CLMS). Principal Fin Gru has invested 0% of its portfolio in Calamos Asset Management, Inc (NASDAQ:CLMS). Oppenheimer And Incorporated last reported 0.01% of its portfolio in the stock. Ancora Advsrs Limited Liability last reported 84,900 shares in the company. Price T Rowe Associates Md owns 18,000 shares or 0% of their US portfolio. Blackrock Incorporated has 6,580 shares for 0% of their US portfolio. Blackrock Grp Ltd holds 0% or 11,226 shares in its portfolio.

Insider Transactions: Since May 24, 2016, the stock had 9 buys, and 0 selling transactions for $199,798 net activity. On Wednesday, August 24 the insider SCHAPPERT KEITH M bought $158. 13,750 shares were bought by CALAMOS JOHN P SR, worth $98,814. Shares for $359 were bought by EGGERS THOMAS F on Wednesday, August 24. 19 shares were bought by SHIEBLER WILLIAM N, worth $148. Another trade for 347 shares valued at $2,707 was bought by Gilbert Richard W.

More news for Calamos Asset Management, Inc (NASDAQ:CLMS) were recently published by: Prnewswire.com, which released: “Calamos Asset Management, Inc. Announces Third Quarter 2016 Investor …” on October 12, 2016. Seekingalpha.com‘s article titled: “Calamos Asset Management’s (CLMS) CEO John Koudounis on Q2 2016 Results …” and published on July 28, 2016 is yet another important article.

CLMS Company Profile

Calamos Asset Management, Inc., incorporated on July 23, 2004, is a holding company. The Firm is the manager of Calamos Investments LLC, which owns and manages its operating companies. The Firm 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. The subsidiaries through which the Company provides these services include Calamos Advisors LLC (CAL), an investment advisor; Calamos Financial Services LLC (CFS), a broker-dealer; Calamos Wealth Management LLC, an investment advisor, and Calamos Investments LLP, a United Kingdom investment advisor, and a distributor of the offshore funds and Company products.

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