AFC Gamma, Inc. (NASDAQ:AFCG) Receives Consensus Rating of “Moderate Buy” from Analysts

AFC Gamma, Inc. (NASDAQ:AFCG) has received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.67.

AFCG has been the topic of several research analyst reports. JMP Securities restated a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and lowered their price target for the company from $10.00 to $7.00 in a research note on Friday, March 14th. Finally, Alliance Global Partners began coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company.

Insider Activity

In other news, CEO Daniel Neville acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were purchased at an average cost of $6.20 per share, with a total value of $31,000.00. Following the completion of the purchase, the chief executive officer now owns 182,261 shares of the company’s stock, valued at $1,130,018.20. This represents a 2.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leonard M. Tannenbaum acquired 50,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were purchased at an average cost of $6.20 per share, with a total value of $310,000.00. Following the acquisition, the director now owns 3,959,876 shares of the company’s stock, valued at approximately $24,551,231.20. This represents a 1.28 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 146,606 shares of company stock worth $930,691. Company insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Martingale Asset Management L P increased its stake in shares of AFC Gamma by 24.1% in the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock valued at $172,000 after buying an additional 4,005 shares in the last quarter. Tidal Investments LLC grew 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 last quarter. Barclays PLC increased its position in AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after acquiring an additional 16,245 shares in the last quarter. McIlrath & Eck LLC bought a new position in shares of AFC Gamma in the third quarter worth about $52,000. Finally, Geode Capital Management LLC lifted its position in shares of 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 in the last quarter. 26.53% of the stock is owned by institutional investors and hedge funds.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $5.57 on Wednesday. The firm has a market capitalization of $125.86 million, a P/E ratio of 13.93 and a beta of 1.03. AFC Gamma has a 1 year low of $5.40 and a 1 year high of $12.74. The firm’s fifty day simple moving average is $7.80 and its 200 day simple moving average is $8.92. 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 Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 31st. AFC Gamma’s payout ratio is 115.00%.

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.