Adamas Trust (NASDAQ:ADAM) Stock Gets Price Target Trim from JonesTrading

Key Points

• JonesTrading lowered Adamas Trust’s price target to $9.50 from $10.00 but maintained a “buy” rating, implying roughly 32% upside from the current price.
• Adamas Trust shares fell 7.7% to $7.18, while analyst sentiment remained cautious: one analyst rates it a Buy and five rate it Hold, producing a consensus rating of “Hold” and an average target of $9.38.
• The company met quarterly earnings expectations with EPS of $0.30, and institutional investors own approximately 54.89% of its outstanding shares.

Adamas Trust (NASDAQ:ADAM - Get Free Report) had its price objective cut by stock analysts at JonesTrading from $10.00 to $9.50 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. JonesTrading's price objective points to a potential upside of 32.31% from the company's current price.

Several other research firms have also issued reports on ADAM. UBS Group upped their target price on Adamas Trust from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Wednesday, August 19th. Zacks Research downgraded shares of Adamas Trust from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Wall Street Zen lowered shares of Adamas Trust from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Adamas Trust in a research note on Monday, October 19th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Adamas Trust currently has an average rating of "Hold" and a consensus price target of $9.38.

Adamas Trust Stock Down 7.7%

Adamas Trust stock traded down $0.60 during mid-day trading on Thursday, reaching $7.18. The company's stock had a trading volume of 2,579,659 shares, compared to its average volume of 853,131. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54. Adamas Trust has a 12 month low of $6.45 and a 12 month high of $10.36. The business's 50 day simple moving average is $8.59 and its 200 day simple moving average is $8.56. The company has a market capitalization of $645.34 million, a price-to-earnings ratio of 4.27 and a beta of 1.22.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of ($119.44) million for the quarter. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. As a group, research analysts anticipate that Adamas Trust will post 1.20 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in Adamas Trust in the 2nd quarter valued at about $34,000. Nykredit A S acquired a new stake in Adamas Trust during the second quarter worth approximately $36,000. Integrated Wealth Concepts LLC acquired a new stake in Adamas Trust during the second quarter worth approximately $48,000. Hillsdale Investment Management Inc. acquired a new stake in Adamas Trust during the first quarter worth approximately $60,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Adamas Trust by 26.1% during the third quarter. GAMMA Investing LLC now owns 9,974 shares of the company's stock worth $78,000 after acquiring an additional 2,065 shares during the period. 54.89% of the stock is owned by institutional investors and hedge funds.

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.

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