AFC Gamma, Inc. (NASDAQ:AFCG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have received an average recommendation of “Moderate Buy” from the four analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

AFCG has been the topic of several research reports. Seaport Res Ptn upgraded AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Compass Point raised shares of AFC Gamma from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $9.00 in a report on Friday, August 16th. Finally, Jefferies Financial Group cut their target price on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd.

Institutional Trading of AFC Gamma

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its holdings in AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after acquiring an additional 85,655 shares during the period. State Street Corp grew its position in shares of AFC Gamma by 2.8% during the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after purchasing an additional 10,320 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of AFC Gamma by 1.4% in the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after purchasing an additional 1,900 shares during the period. AdvisorShares Investments LLC raised its position in shares of AFC Gamma by 14.7% in the second quarter. AdvisorShares Investments LLC now owns 124,606 shares of the company’s stock worth $1,505,000 after buying an additional 16,000 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its stake in AFC Gamma by 22.9% during the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after buying an additional 14,570 shares during the period. Hedge funds and other institutional investors own 26.53% of the company’s stock.

AFC Gamma Trading Up 0.6 %

NASDAQ:AFCG opened at $9.64 on Thursday. The firm’s 50 day moving average is $9.96 and its 200 day moving average is $10.51. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.35. The stock has a market capitalization of $211.60 million, a PE ratio of 24.10 and a beta of 1.05. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 13.69%. The ex-dividend date of this dividend was Monday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is presently 330.00%.

AFC Gamma Company Profile

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.