AFC Gamma, Inc. (NASDAQ:AFCG) Receives Average Rating of “Hold” from Analysts

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have earned an average rating of “Hold” from the three ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.00.

Several equities analysts have recently issued reports on AFCG shares. Jefferies Financial Group dropped their price target on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research note on Thursday, June 27th. Finally, Compass Point upgraded shares of AFC Gamma from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $9.00 in a report on Friday, August 16th.

AFC Gamma Price Performance

AFC Gamma stock traded up $0.10 during mid-day trading on Wednesday, reaching $9.80. The company had a trading volume of 18,001 shares, compared to its average volume of 146,370. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.35. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.11. The company has a market cap of $202.54 million, a P/E ratio of 18.85 and a beta of 1.05. The business has a fifty day simple moving average of $10.04 and a 200 day simple moving average of $11.05.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The firm had revenue of $19.96 million for the quarter, compared to analyst estimates of $16.48 million. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. On average, equities research analysts predict that AFC Gamma will post 2 earnings per share for the current year.

AFC Gamma Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 13.47%. The ex-dividend date is Monday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is presently 253.85%.

Institutional Investors Weigh In On AFC Gamma

Several institutional investors have recently added to or reduced their stakes in the company. Hartline Investment Corp bought a new stake in shares of AFC Gamma in the first quarter worth approximately $133,000. Newbridge Financial Services Group Inc. increased its position in AFC Gamma by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 18,300 shares of the company’s stock valued at $220,000 after acquiring an additional 5,300 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in 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 acquiring an additional 1,071 shares during the last quarter. Anson Funds Management LP bought a new position in shares of AFC Gamma in the first quarter worth about $319,000. Finally, Spire Wealth Management grew its holdings in AFC Gamma by 141.5% during the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock worth $362,000 after acquiring an additional 17,400 shares in the last quarter. 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.