Prudential Financial Inc. lowered its position in Calamos Asset Management, Inc. (NASDAQ:CLMS) by 16.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,338 shares of the closed-end fund’s stock after selling 30,060 shares during the period. Prudential Financial Inc. owned about 0.75% of Calamos Asset Management worth $1,053,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of CLMS. Emerald Acquisition Ltd. acquired a new position in Calamos Asset Management during the second quarter worth approximately $176,000. Raymond James & Associates boosted its position in Calamos Asset Management by 135.8% in the second quarter. Raymond James & Associates now owns 26,067 shares of the closed-end fund’s stock worth $191,000 after buying an additional 15,011 shares during the period. Rhumbline Advisers boosted its position in Calamos Asset Management by 3.7% in the second quarter. Rhumbline Advisers now owns 35,152 shares of the closed-end fund’s stock worth $257,000 after buying an additional 1,250 shares during the period. Virginia Retirement Systems ET AL acquired a new position in Calamos Asset Management during the second quarter worth approximately $276,000. Finally, Wells Fargo & Company MN boosted its position in Calamos Asset Management by 18.4% in the third quarter. Wells Fargo & Company MN now owns 42,956 shares of the closed-end fund’s stock worth $293,000 after buying an additional 6,664 shares during the period. 57.52% of the stock is owned by institutional investors.
Shares of Calamos Asset Management, Inc. (NASDAQ:CLMS) remained flat at $8.33 during midday trading on Wednesday. The company’s stock had a trading volume of 123,501 shares. The firm’s 50 day moving average is $8.09 and its 200 day moving average is $7.15. Calamos Asset Management, Inc. has a 52-week low of $5.94 and a 52-week high of $9.61. The stock has a market cap of $171.01 million, a P/E ratio of 185.11 and a beta of 1.11.
Calamos Asset Management (NASDAQ:CLMS) last posted its quarterly earnings results on Thursday, October 27th. The closed-end fund reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.09. Calamos Asset Management had a return on equity of 2.70% and a net margin of 0.45%. The firm earned $48.32 million during the quarter, compared to analyst estimates of $48.38 million. During the same period last year, the company earned $0.18 earnings per share. The business’s revenue for the quarter was down 16.1% on a year-over-year basis. Equities analysts expect that Calamos Asset Management, Inc. will post $0.04 EPS for the current fiscal year.
Separately, Zacks Investment Research raised Calamos Asset Management from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Wednesday, October 19th.
In related news, major shareholder Mangrove Partners Fund (Cayman purchased 5,700 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was purchased at an average cost of $8.30 per share, with a total value of $47,310.00. Following the completion of the acquisition, the insider now directly owns 2,074,400 shares of the company’s stock, valued at $17,217,520. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John P. Sr Calamos, Sr. purchased 14,169 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was bought at an average cost of $7.12 per share, with a total value of $100,883.28. The disclosure for this purchase can be found here. Insiders bought 52,540 shares of company stock valued at $421,912 over the last ninety days. Corporate insiders own 20.40% of the company’s stock.
About Calamos Asset Management
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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