AFC Gamma (NASDAQ:AFCG) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group cut shares of AFC Gamma (NASDAQ:AFCG) from a buy rating to a hold rating in a research note released on Friday, MarketBeat.com reports. The firm currently has $7.00 target price on the stock, down from their previous target price of $10.00.

Several other research firms have also recently commented on AFCG. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Alliance Global Partners started coverage on AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.67.

AFC Gamma Stock Down 2.1 %

NASDAQ AFCG opened at $6.62 on Friday. The stock has a market cap of $145.33 million, a PE ratio of 16.55 and a beta of 1.03. AFC Gamma has a fifty-two week low of $6.10 and a fifty-two week high of $13.28. The business has a 50 day moving average price of $8.34 and a two-hundred day moving average price of $9.27. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On AFC Gamma

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC lifted its stake in AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after purchasing an additional 85,655 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AFC Gamma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after purchasing an additional 2,200 shares during the last quarter. State Street Corp lifted its stake in AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares during the last quarter. Geode Capital Management LLC lifted its stake in AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after purchasing an additional 8,877 shares during the last quarter. Finally, Barclays PLC lifted its stake in AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares during the last quarter. 26.53% of the stock is currently owned by hedge funds and other institutional investors.

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.