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

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have been given an average rating of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.67.

AFCG has been the topic of several recent research reports. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Alliance Global Partners started coverage on AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective on the stock.

AFC Gamma Trading Up 0.5 %

Shares of AFCG opened at $8.44 on Friday. The stock has a market capitalization of $185.26 million, a PE ratio of 21.10 and a beta of 1.05. The company’s fifty day moving average is $9.13 and its 200 day moving average is $9.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.28.

AFC Gamma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.32 annualized dividend and a yield of 15.64%. AFC Gamma’s payout ratio is 330.00%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AFCG. Bank of New York Mellon Corp raised its holdings in shares of AFC Gamma by 15.2% in the second quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company’s stock worth $924,000 after buying an additional 10,016 shares during the period. Renaissance Technologies LLC lifted its position in shares of AFC Gamma by 1.4% during 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 last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of AFC Gamma by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock valued at $284,000 after purchasing an additional 1,071 shares during the period. Ritholtz Wealth Management boosted its stake in shares of AFC Gamma by 91.1% during the third quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after purchasing an additional 28,998 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of AFC Gamma in the third quarter worth about $140,000. Hedge funds and other 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.