Adamas Trust (NASDAQ:ADAM) Sees Large Volume Increase – What’s Next?

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) saw an uptick in trading volume on Monday . 860,258 shares changed hands during 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

ADAM has been the subject of several research reports. Zacks Research upgraded shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Adamas Trust from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. JonesTrading reissued a “buy” rating and issued a $10.00 price target on shares of Adamas Trust in a report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. Finally, UBS Group lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.50.

Adamas Trust Price Performance

The firm’s fifty day simple moving average is $9.43 and its 200-day simple moving average is $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. The firm has a market capitalization of $806.67 million, a PE ratio of 5.34 and a beta of 1.18.

Adamas Trust (NASDAQ:ADAM) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $47.92 million for the quarter, compared to analysts’ expectations of $47.50 million. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%. On average, research analysts forecast that Adamas Trust, Inc. will post 1.2 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, September 22nd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 13.4%. The ex-dividend date is Tuesday, September 22nd. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.27. Adamas Trust’s dividend payout ratio is 71.43%.

Hedge Funds Weigh In On Adamas Trust

Several hedge funds and other institutional investors have recently bought and sold shares of ADAM. Tidal Investments LLC purchased a new position in shares of Adamas Trust during the second quarter valued at approximately $172,000. Integrated Wealth Concepts LLC purchased a new stake in Adamas Trust in the second quarter worth approximately $48,000. Nykredit A S purchased a new stake in Adamas Trust in the second quarter worth approximately $36,000. Corient Private Wealth LP bought a new stake in Adamas Trust in the 2nd quarter worth approximately $107,000. Finally, Amundi bought a new stake in Adamas Trust in the 2nd quarter worth approximately $128,000. Institutional investors own 54.89% of the company’s stock.

About Adamas Trust