Adamas Trust’s (ADAM) Buy Rating Reiterated at JonesTrading

JonesTrading reaffirmed their buy rating on shares of Adamas Trust (NASDAQ:ADAM) in a report published on Friday morning,Benzinga reports. They currently have a $10.00 price objective on the stock.

ADAM has been the subject of several other research reports. Wall Street Zen cut shares of Adamas Trust from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. UBS Group boosted their price objective on shares of Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Zacks Research raised shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.50.

Adamas Trust Stock Performance

Shares of ADAM stock opened at $9.09 on Friday. The company has a market capitalization of $817.01 million, a P/E ratio of 5.41 and a beta of 1.18. Adamas Trust has a fifty-two week low of $6.45 and a fifty-two week high of $10.36. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54. The stock has a 50 day moving average price of $9.44 and a two-hundred day moving average price of $8.77.

Adamas Trust (NASDAQ:ADAM) last issued its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $47.50 million. Analysts expect that Adamas Trust will post 1.2 earnings per share for the current year.

Adamas Trust Increases Dividend

The firm also recently announced 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 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 dividend yield of 13.2%. The ex-dividend date is Tuesday, September 22nd. Adamas Trust’s dividend payout ratio is currently 64.29%.

Institutional Inflows and Outflows

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

Adamas Trust Company Profile