Alliance Global Partners Begins Coverage on AFC Gamma (NASDAQ:AFCG)

Stock analysts at Alliance Global Partners began coverage on shares of AFC Gamma (NASDAQ:AFCG) in a research report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $13.00 price target on the stock. Alliance Global Partners’ target price indicates a potential upside of 45.09% from the stock’s current price.

Several other brokerages have also issued reports on AFCG. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group decreased their price objective on AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AFC Gamma has an average rating of “Moderate Buy” and a consensus price target of $11.67.

AFC Gamma Price Performance

AFC Gamma stock opened at $8.96 on Tuesday. The stock has a market cap of $196.70 million, a price-to-earnings ratio of 22.40 and a beta of 1.03. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma has a 12-month low of $8.06 and a 12-month high of $13.35. The business’s 50-day simple moving average is $9.71 and its 200 day simple moving average is $10.21.

Institutional Trading of AFC Gamma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC grew its position in shares of AFC Gamma by 19.7% in the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after purchasing an additional 85,655 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of AFC Gamma by 91.1% in the third quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after acquiring an additional 28,998 shares during the period. Centiva Capital LP bought a new position in AFC Gamma during the third quarter worth about $193,000. Spire Wealth Management raised its stake in AFC Gamma by 141.5% in the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock worth $362,000 after purchasing an additional 17,400 shares in the last quarter. Finally, Barclays PLC grew its position in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares in the last quarter. Institutional investors own 26.53% of the company’s stock.

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.