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Rating:Calamos' Buyback Spree Continues Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, June 24, 2013

Calamos' Buyback Spree Continues

Reported by Tommy Fernandez

Calamos Asset Management [profile] continued to snap up shares under the name of John Calamos, the firm's founder, chairman, chief executive and co-chief investment officer.

If you look at the SEC filings for the purchases, you'd notice that the stake under his name has been steadily increasing, rising from 624,592 shares at the end of 2012 to 1,422,070 as of June 21st. February was a particularly heavy month, with acquisitions of nearly 245,000 shares.

During an analyst conference call on the firm's first quarter earnings, Calamos the CEO explained that purchases were not made by him personally, but rather by the company under his name, as part of a 3 million share buyback plan. The purchases are made under his name due to the company's ownership structure.

Calamos had over 20.3 million Class A shares outstanding at the end of 2012. 

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