Adamas Trust (NASDAQ:ADAM) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Adamas Trust shares experienced unusually high trading volume, with about 860,258 shares changing hands—8% above the prior session—while the stock traded near $8.93.
• Analyst sentiment is generally positive but mixed: the consensus rating is “Moderate Buy”, with an average price target of $9.50 versus the recent trading price.
• The company reported quarterly earnings and revenue above expectations and raised its quarterly dividend from $0.27 to $0.30 per share, implying a $1.20 annualized payout and a 13.4% yield.

Adamas Trust, Inc. (NASDAQ:ADAM - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 860,258 shares traded hands during mid-day trading, an increase of 8% from the previous session's volume of 795,001 shares.The stock last traded at $8.9260 and had previously closed at $8.91.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADAM. Zacks Research upgraded Adamas Trust from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Adamas Trust from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Weiss Ratings restated a "hold (c)" rating on shares of Adamas Trust in a research report on Tuesday, July 21st. JonesTrading reiterated a "buy" rating and set a $10.00 price objective on shares of Adamas Trust in a research report on Thursday. Finally, UBS Group increased their price objective on shares of Adamas Trust from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Adamas Trust Stock Up 0.7%

The firm has a market cap of $806.67 million, a price-to-earnings ratio of 5.34 and a beta of 1.18. The firm has a 50 day moving average of $9.43 and a 200 day moving average of $8.80. The company has a quick ratio of 18.54, a current ratio of 18.54 and a debt-to-equity ratio of 11.89.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last posted 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 firm had revenue of $47.92 million during the quarter, compared to the consensus estimate of $47.50 million. As a group, sell-side analysts predict that Adamas Trust, Inc. will post 1.2 earnings per share for the current year.

Adamas Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, September 22nd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.4%. This is an increase from Adamas Trust's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 22nd. Adamas Trust's dividend payout ratio is currently 71.43%.

Hedge Funds Weigh In On Adamas Trust

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Adamas Trust by 2.9% during the first quarter. Royal Bank of Canada now owns 43,261 shares of the company's stock valued at $318,000 after purchasing an additional 1,214 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Adamas Trust in the second quarter valued at approximately $34,000. Nykredit A S purchased a new stake in shares of Adamas Trust during the second quarter valued at approximately $36,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Adamas Trust during the second quarter valued at approximately $48,000. Finally, Principal Financial Group Inc. lifted its holdings in Adamas Trust by 2.0% during the first quarter. Principal Financial Group Inc. now owns 408,275 shares of the company's stock worth $3,005,000 after acquiring an additional 7,947 shares during the period. 54.89% of the stock is owned by hedge funds and other institutional investors.

About Adamas Trust

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