Adamas Trust (NASDAQ:ADAM) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Adamas Trust (NASDAQ:ADAM) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks reports.

A number of other research analysts have also weighed in on ADAM. Wall Street Zen lowered shares of Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. UBS Group boosted their price objective on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. JonesTrading reissued a “buy” rating and set a $10.00 target price on shares of Adamas Trust in a research report on Thursday, September 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.50.

Adamas Trust Price Performance

Adamas Trust stock opened at $7.93 on Monday. The stock has a market capitalization of $712.75 million, a price-to-earnings ratio of 4.72 and a beta of 1.18. Adamas Trust has a 52-week low of $6.45 and a 52-week high of $10.36. The stock’s 50 day moving average price is $9.33 and its two-hundred day moving average price is $8.81. 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 (NASDAQ:ADAM) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $47.92 million during the quarter, compared to analysts’ expectations of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. On average, equities analysts predict that Adamas Trust will post 1.2 earnings per share for the current year.

Adamas Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, September 22nd will be paid a $0.30 dividend. This is a boost from Adamas Trust’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 15.1%. The ex-dividend date of this dividend is Tuesday, September 22nd. Adamas Trust’s payout ratio is currently 71.43%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC bought a new position in shares of Adamas Trust during the 2nd quarter valued at $172,000. Integrated Wealth Concepts LLC purchased a new position in Adamas Trust during the 2nd quarter valued at about $48,000. Nykredit A S bought a new position in shares of Adamas Trust during the second quarter valued at approximately $36,000. Corient Private Wealth LP purchased a new stake in shares of Adamas Trust in the 2nd quarter worth about $107,000. Finally, Amundi purchased a new stake in Adamas Trust in the second quarter worth about $128,000. 54.89% of the stock is currently owned by institutional investors.

About Adamas Trust