Adamas Trust (NASDAQ:ADAM) Cut to “Sell” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Adamas Trust (NASDAQ:ADAM – Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Adamas Trust from $9.25 to $8.50 and set a “market perform” rating for the company in a research note on Friday, October 30th. JonesTrading dropped their price target on Adamas Trust from $10.00 to $9.50 and set a “buy” rating for the company in a report on Thursday, October 29th. UBS Group boosted their price target on Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Weiss Ratings lowered Adamas Trust from a “hold (c)” rating to a “sell (d)” rating in a report on Tuesday, November 3rd. Finally, Zacks Research lowered Adamas Trust from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $9.25.

Get Our Latest Stock Report on Adamas Trust

Adamas Trust Price Performance

ADAM stock opened at $5.69 on Friday. The company has a current ratio of 19.06, a quick ratio of 18.54 and a debt-to-equity ratio of 16.02. The firm has a market capitalization of $513.86 million, a PE ratio of 5.52 and a beta of 1.26. Adamas Trust has a 1-year low of $5.56 and a 1-year high of $10.36. The business’s 50 day simple moving average is $7.98 and its 200 day simple moving average is $8.46.

Adamas Trust (NASDAQ:ADAM – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Adamas Trust had a positive return on equity of 15.77% and a negative net margin of 0.26%. The business had revenue of ($119.44) million for the quarter. As a group, research analysts anticipate that Adamas Trust will post 1.19 EPS for the current year.

Institutional Trading of Adamas Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Adamas Trust in the second quarter valued at approximately $127,863,000. Bessemer Group Inc. boosted its position in Adamas Trust by 48,152.5% during the 1st quarter. Bessemer Group Inc. now owns 530,778 shares of the company’s stock worth $3,907,000 after buying an additional 529,678 shares during the period. Bank of New York Mellon Corp bought a new stake in Adamas Trust during the 2nd quarter worth approximately $4,657,000. Principal Financial Group Inc. grew its holdings in Adamas Trust by 2.0% during the 1st 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 last quarter. Finally, Bank of America Corp DE bought a new stake in Adamas Trust during the 2nd quarter worth approximately $3,461,000. 54.89% of the stock is currently owned by institutional investors.

Adamas Trust Company Profile

(Get Free Report)

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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