Adamas Trust (NASDAQ:ADAM) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Adamas Trust from “hold” to “sell.” Other firms also issued bearish ratings, and MarketBeat’s consensus rating is “Reduce,” with an average price target of $9.25.
• ADAM opened at $5.69, near its 12-month low of $5.67; its 12-month high is $10.36.
• Adamas Trust reported quarterly EPS of $0.30, matching analyst expectations, and revenue of negative $119.44 million.

Adamas Trust (NASDAQ:ADAM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently commented on ADAM. Zacks Research cut Adamas Trust from a "hold" rating to a "strong sell" rating in a research note on Friday, October 30th. Weiss Ratings lowered Adamas Trust from a "hold (c)" rating to a "sell (d)" rating in a research report on Tuesday. Keefe, Bruyette & Woods dropped their price objective on Adamas Trust from $9.25 to $8.50 and set a "market perform" rating for the company in a research note on Friday, October 30th. JonesTrading decreased their price objective on shares of Adamas Trust from $10.00 to $9.50 and set a "buy" rating for the company in a report on Thursday, October 29th. Finally, UBS Group boosted their price objective on shares of Adamas Trust from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $9.25.

Adamas Trust Price Performance

NASDAQ ADAM opened at $5.69 on Friday. Adamas Trust has a 12 month low of $5.67 and a 12 month high of $10.36. The firm has a market capitalization of $513.86 million, a PE ratio of 5.29 and a beta of 1.26. The company's 50 day simple moving average is $8.07 and its 200 day simple moving average is $8.48. The company has a debt-to-equity ratio of 16.02, a current ratio of 19.06 and a quick ratio of 18.54.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Adamas Trust had a positive return on equity of 15.77% and a negative net margin of 0.26%. The firm had revenue of ($119.44) million during the quarter. As a group, equities research analysts forecast that Adamas Trust will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Adamas Trust

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Adamas Trust during the second quarter worth about $127,863,000. Bank of New York Mellon Corp purchased a new position in shares of Adamas Trust in the second quarter worth $4,657,000. Bessemer Group Inc. raised its holdings in Adamas Trust by 48,152.5% in the 1st quarter. Bessemer Group Inc. now owns 530,778 shares of the company's stock worth $3,907,000 after acquiring an additional 529,678 shares during the last quarter. Bank of America Corp DE purchased a new stake in Adamas Trust in the 2nd quarter worth $3,461,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Adamas Trust by 2.0% during the first quarter. Principal Financial Group Inc. now owns 408,275 shares of the company's stock valued at $3,005,000 after purchasing an additional 7,947 shares during the period. Institutional investors and hedge funds own 54.89% of the company's stock.

Adamas Trust Company Profile

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.

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