Today’s Stock On Watch: Is Calamos Asset Management, Inc’s Fuel Running Low? The Stock Reaches 1 Year Low Today

Today's Stock On Watch: Is Calamos Asset Management, Inc's Fuel Running Low? The Stock Reaches 1 Year Low Today

The stock of Calamos Asset Management, Inc (NASDAQ:CLMS) hit a new 52-week low and has $5.34 target or 13.00% below today’s $6.14 share price. The 7 months bearish chart indicates high risk for the $120.01 million company. The 1-year low was reported on Nov, 4 by Barchart.com. If the $5.34 price target is reached, the company will be worth $15.60M 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 45,598 shares traded hands. Calamos Asset Management, Inc (NASDAQ:CLMS) has declined 28.50% since April 4, 2016 and is downtrending. It has underperformed by 29.60% the S&P500.

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. Calamos Asset Management has been the topic of 8 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The stock of Calamos Asset Management, Inc (NASDAQ:CLMS) earned “Buy” rating by TheStreet on Thursday, August 27. Credit Suisse reinitiated Calamos Asset Management, Inc (NASDAQ:CLMS) on Friday, July 15 with “Underperform” rating. Wood maintained it with “Underperform” rating and $10 target price in Thursday, September 3 report. Wood upgraded the stock to “Market Perform” rating in Monday, June 20 report. Keefe Bruyette & Woods upgraded the stock to “Mkt Perform” rating in Monday, June 20 report.

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 Q2 2016. Its down 0.23, from 1.18 in 2016Q1. The ratio dived, 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.
The Texas-based Bridgeway Cap Mngmt has invested 0.03% in Calamos Asset Management, Inc (NASDAQ:CLMS). New York State Teachers Retirement System, a New York-based fund reported 62,653 shares. National Bank & Trust Of New York Mellon Corporation owns 271,742 shares or 0% of their US portfolio. Jpmorgan Chase And Co holds 0% of its portfolio in Calamos Asset Management, Inc (NASDAQ:CLMS) for 55,963 shares. Ameriprise Fincl Inc has 109,323 shares for 0% of their US portfolio. Los Angeles Cap And Equity Rech accumulated 0% or 61,870 shares. Hancock has 0.02% invested in the company for 77,060 shares. Renaissance Tech Llc accumulated 799,500 shares or 0.01% of the stock. Guggenheim Capital Limited Liability Com holds 217,404 shares or 0% of its portfolio. Tiaa Cref Investment Mngmt Ltd holds 0% of its portfolio in Calamos Asset Management, Inc (NASDAQ:CLMS) for 111,094 shares. Blackrock Institutional Trust Na has 0% invested in the company for 655,633 shares. The California-based California State Teachers Retirement has invested 0% in Calamos Asset Management, Inc (NASDAQ:CLMS). The United Kingdom-based Legal General Grp Inc Plc has invested 0% in Calamos Asset Management, Inc (NASDAQ:CLMS). Citigroup accumulated 0% or 13,996 shares. Blackrock Group holds 0% of its portfolio in Calamos Asset Management, Inc (NASDAQ:CLMS) for 11,226 shares.

Insider Transactions: Since May 24, 2016, the stock had 9 insider buys, and 0 selling transactions for $199,798 net activity. $96,955 worth of Calamos Asset Management, Inc (NASDAQ:CLMS) was bought by CALAMOS JOHN P SR on Tuesday, May 24. Another trade for 22 shares valued at $158 was made by SHIEBLER WILLIAM N on Wednesday, August 24. $2,707 worth of Calamos Asset Management, Inc (NASDAQ:CLMS) was bought by Gilbert Richard W. 45 Calamos Asset Management, Inc (NASDAQ:CLMS) shares with value of $351 were bought by EGGERS THOMAS F. $148 worth of Calamos Asset Management, Inc (NASDAQ:CLMS) shares were bought by SCHAPPERT KEITH M.

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. Prnewswire.com‘s article titled: “Calamos Asset Management, Inc. Reports Third Quarter 2016 Results and Declares …” and published on October 27, 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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