Manages a closed-ended fixed income mutual fund, Calamos Convertible and High Income Fund (CHY). Invests primarily in the fixed income markets of the United States. Now — the numbers.
This is an established company with proven profits.
An average decline of 18% a year over the last 4 years — the most striking risk in this picture. Red columns mark years that ended in a loss.
The market pays 5.4× for every dollar of annual profit — cheap, which is either an opportunity or a warning.
No analyst target is on record for this company.
Executives buying with their own money is usually read as confidence in the company’s future.
The stock trades 26% below its peak. The market has trimmed its expectations for the company.
Over the last 12 months, company executives reported 7 buys and 3 sells. Management buying with its own money is usually read as a good sign.
It pays out $1.20 per share each year — regular cash for whoever holds the stock.
Over the last 4 years, sales fell about 18% a year on average. Profit is holding up, but a shrinking business is a risk worth watching.
Since the drop from its peak, buyer appetite hasn’t come back.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.