Adamas Trust (NASDAQ:ADAM) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Adamas Trust from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $9.50.
• Shares traded up 3.2% to $9.82, near the company’s 52-week high of $9.92. Adamas Trust reported quarterly EPS of $0.30, exceeding the $0.25 consensus estimate, while revenue also topped expectations.
• Institutional investors own 54.89% of the stock, with several major funds recently initiating or increasing positions.

Adamas Trust (NASDAQ:ADAM - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

ADAM has been the topic of a number of other research reports. Zacks Research raised shares of Adamas Trust from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. B. Riley Financial lowered shares of Adamas Trust from a "buy" rating to a "neutral" rating and set a $9.50 target price for the company. in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Adamas Trust in a research note on Tuesday, July 21st. Finally, JonesTrading upped their price objective on Adamas Trust from $9.50 to $10.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.50.

Adamas Trust Trading Up 3.2%

NASDAQ:ADAM opened at $9.82 on Friday. The company has a debt-to-equity ratio of 11.89, a quick ratio of 17.70 and a current ratio of 18.54. The firm has a market cap of $882.62 million, a P/E ratio of 5.85 and a beta of 1.17. Adamas Trust has a 52 week low of $6.45 and a 52 week high of $9.92. The firm's fifty day moving average is $9.11 and its 200-day moving average is $8.48.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. The company had revenue of $47.92 million during the quarter, compared to analyst estimates of $47.50 million. Equities analysts expect that Adamas Trust will post 1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Wolverine Asset Management LLC bought a new position in Adamas Trust during the 4th quarter worth approximately $2,905,000. New York State Teachers Retirement System bought a new stake in Adamas Trust in the fourth quarter valued at approximately $940,000. Bessemer Group Inc. boosted its stake in shares of Adamas Trust by 48,152.5% during the first quarter. Bessemer Group Inc. now owns 530,778 shares of the company's stock valued at $3,907,000 after purchasing an additional 529,678 shares during the period. Intech Investment Management LLC bought a new position in shares of Adamas Trust in the fourth quarter worth approximately $1,540,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Adamas Trust during the 1st quarter valued at $446,000. Hedge funds and other institutional investors own 54.89% of the company's stock.

About Adamas Trust

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source