Adamas Trust (NASDAQ:ADAM) Rating Lowered to Hold at Zacks Research

Adamas Trust (NASDAQ:ADAM) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Adamas Trust from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. JonesTrading reiterated a “buy” rating and set a $10.00 target price on shares of Adamas Trust in a research report on Thursday, September 17th. Finally, UBS Group increased their target price on Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Adamas Trust Price Performance

NASDAQ:ADAM opened at $7.93 on Monday. The company has a fifty day moving average price of $9.33 and a 200 day moving average price of $8.81. Adamas Trust has a one year low of $6.45 and a one year high of $10.36. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 18.54. The stock has a market cap of $712.75 million, a P/E ratio of 4.72 and a beta of 1.18.

Adamas Trust (NASDAQ:ADAM) last issued its earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%.The firm had revenue of $47.92 million during the quarter, compared to analysts’ expectations of $47.50 million. Analysts anticipate that Adamas Trust will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Adamas Trust

A number of large investors have recently added to or reduced their stakes in ADAM. Royal Bank of Canada lifted its stake in Adamas Trust by 2.9% in the 1st quarter. Royal Bank of Canada now owns 43,261 shares of the company’s stock valued at $318,000 after acquiring an additional 1,214 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Adamas Trust during the second quarter worth about $34,000. Nykredit A S acquired a new position in shares of Adamas Trust during the 2nd quarter worth approximately $36,000. Integrated Wealth Concepts LLC bought a new position in shares of Adamas Trust in the second quarter valued at $48,000. Finally, Principal Financial Group Inc. raised its position 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 in the last quarter. Institutional investors own 54.89% of the company’s stock.

Adamas Trust Company Profile