Bessemer Group Inc. Purchases 529,678 Shares of Adamas Trust, Inc. $ADAM

Key Points

• Bessemer Group Inc. dramatically increased its stake in Adamas Trust, buying 529,678 shares in the first quarter and lifting its holdings to 530,778 shares worth about $3.9 million.
• Adamas Trust recently posted better-than-expected quarterly results, earning $0.29 per share on revenue of $45.81 million, both above analyst estimates.
• The company also raised its quarterly dividend to $0.27 per share, which implies an annualized yield of 12.2%, though its payout ratio is high at 92.31%.

Bessemer Group Inc. raised its position in Adamas Trust, Inc. (NASDAQ:ADAM - Free Report) by 48,152.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 530,778 shares of the company's stock after purchasing an additional 529,678 shares during the quarter. Bessemer Group Inc. owned 0.59% of Adamas Trust worth $3,907,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ADAM. Wolverine Asset Management LLC acquired a new position in Adamas Trust during the fourth quarter worth $2,905,000. New York State Teachers Retirement System acquired a new position in shares of Adamas Trust during the 4th quarter worth approximately $940,000. Intech Investment Management LLC bought a new position in shares of Adamas Trust during the fourth quarter worth approximately $1,540,000. UBS Group AG bought a new position in shares of Adamas Trust during the fourth quarter worth approximately $2,338,000. Finally, Comerica Bank acquired a new stake in shares of Adamas Trust in the fourth quarter valued at approximately $169,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

Adamas Trust Price Performance

Shares of NASDAQ ADAM opened at $8.85 on Wednesday. The company has a current ratio of 17.69, a quick ratio of 17.70 and a debt-to-equity ratio of 11.91. Adamas Trust, Inc. has a 1 year low of $6.16 and a 1 year high of $9.59. The firm has a 50 day simple moving average of $9.08. The company has a market cap of $795.26 million, a price-to-earnings ratio of 7.56 and a beta of 1.16.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $45.81 million for the quarter, compared to analysts' expectations of $40.00 million. Adamas Trust had a net margin of 24.14% and a return on equity of 14.29%. As a group, research analysts anticipate that Adamas Trust, Inc. will post 1.05 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 23rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.2%. This is a positive change from Adamas Trust's previous quarterly dividend of $0.23. Adamas Trust's dividend payout ratio (DPR) is presently 92.31%.

Analyst Upgrades and Downgrades

ADAM has been the topic of a number of recent research reports. Weiss Ratings upgraded Adamas Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, April 24th. B. Riley Financial cut Adamas Trust from a "buy" rating to a "neutral" rating and set a $9.50 target price on the stock. in a research report on Thursday, April 30th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.33.

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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