Zacks Research Downgrades Adamas Trust (NASDAQ:ADAM) to Hold

Key Points

• Zacks Research downgraded Adamas Trust from “strong buy” to “hold,” bringing the consensus rating to “hold” among six analysts, with a consensus price target of $9.50.
• ADAM shares opened at $7.93, below their 50-day moving average of $9.33, while the stock’s 52-week range is $6.45 to $10.36.
• Adamas Trust beat quarterly expectations, reporting $0.30 in earnings per share versus the $0.25 estimate and revenue of $47.92 million; institutional investors own 54.89% of the company.

Adamas Trust (NASDAQ:ADAM - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

ADAM has been the topic of several other research reports. JonesTrading reiterated a "buy" rating and set a $10.00 price target on shares of Adamas Trust in a research report on Thursday, September 17th. Weiss Ratings restated a "hold (c)" rating on shares of Adamas Trust in a report on Tuesday, July 21st. UBS Group lifted their price objective on Adamas Trust from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen downgraded Adamas Trust from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $9.50.

Adamas Trust Price Performance

ADAM opened at $7.93 on Monday. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54. The stock has a market capitalization of $712.75 million, a PE ratio of 4.72 and a beta of 1.18. The stock's 50 day moving average price is $9.33 and its 200-day moving average price is $8.81. Adamas Trust has a 52-week low of $6.45 and a 52-week high of $10.36.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, beating 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 business had revenue of $47.92 million for the quarter, compared to analysts' expectations of $47.50 million. On average, equities research analysts predict that Adamas Trust will post 1.2 EPS for the current year.

Institutional Investors Weigh In On Adamas Trust

A number of institutional investors have recently made changes to their positions in ADAM. BlackRock Inc. purchased a new position in Adamas Trust in the 2nd quarter worth approximately $127,863,000. Bank of New York Mellon Corp purchased a new stake in Adamas Trust during the 2nd quarter valued at $4,657,000. Bessemer Group Inc. boosted its stake in Adamas Trust by 48,152.5% during the 1st 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 last quarter. Bank of America Corp DE bought a new stake in shares of Adamas Trust in the 2nd quarter worth $3,461,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Adamas Trust by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 408,275 shares of the company's stock worth $3,005,000 after purchasing an additional 7,947 shares in the last quarter. Hedge funds and other institutional investors own 54.89% of the company's stock.

Adamas Trust Company Profile

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