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

AFC Gamma, Inc. (NASDAQ:AFCG) has been assigned a consensus recommendation of “Moderate Buy” from the four ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $11.00.

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Compass Point upgraded shares of AFC Gamma from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $9.00 in a research report on Friday, August 16th. Finally, Seaport Res Ptn upgraded AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th.

AFC Gamma Stock Up 0.6 %

Shares of AFCG stock opened at $9.64 on Thursday. AFC Gamma has a twelve month low of $8.06 and a twelve month high of $13.35. The stock has a market cap of $211.60 million, a P/E ratio of 24.10 and a beta of 1.05. The stock has a 50 day moving average of $9.96 and a 200 day moving average of $10.51. 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 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 13.69%. The ex-dividend date of this dividend was Monday, September 30th. AFC Gamma’s dividend payout ratio is presently 330.00%.

Institutional Trading of AFC Gamma

Several institutional investors have recently modified their holdings of the stock. Tidal Investments LLC raised its position in shares of 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 purchasing an additional 85,655 shares during the last quarter. Barclays PLC increased its stake in 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 buying an additional 16,245 shares in the last quarter. McIlrath & Eck LLC acquired a new position in shares of AFC Gamma during the third quarter valued at approximately $52,000. Geode Capital Management LLC raised its holdings 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 valued at $248,000 after acquiring an additional 8,877 shares during the last quarter. Finally, State Street Corp lifted its position in shares of AFC Gamma by 2.8% in the third quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after acquiring an additional 10,320 shares in the last quarter. Institutional investors and hedge funds 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.