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

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

AFCG has been the subject of a number of recent research reports. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Compass Point upgraded shares of AFC Gamma from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $10.00 to $9.00 in a research note on Friday, August 16th. Finally, Jefferies Financial Group reduced their price objective on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd.

Institutional Trading of AFC Gamma

Several hedge funds and other institutional investors have recently modified their holdings of AFCG. Mirae Asset Global Investments Co. Ltd. grew its position in shares of AFC Gamma by 9.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company’s stock valued at $3,519,000 after purchasing an additional 24,506 shares in the last quarter. Empowered Funds LLC lifted its stake in AFC Gamma by 8.1% in the 1st quarter. Empowered Funds LLC now owns 51,324 shares of the company’s stock worth $635,000 after purchasing an additional 3,850 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of AFC Gamma by 88.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 46,806 shares of the company’s stock valued at $579,000 after purchasing an additional 21,915 shares in the last quarter. Anson Funds Management LP purchased a new stake in shares of AFC Gamma in the first quarter worth $319,000. Finally, Tidal Investments LLC purchased a new position in AFC Gamma during the first quarter worth about $7,001,000. Institutional investors own 26.53% of the company’s stock.

AFC Gamma Stock Down 1.4 %

Shares of NASDAQ:AFCG opened at $9.80 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.77 and a current ratio of 4.77. AFC Gamma has a 52-week low of $8.06 and a 52-week high of $13.35. The business’s 50 day simple moving average is $10.18 and its two-hundred day simple moving average is $10.76. The firm has a market cap of $202.57 million, a P/E ratio of 13.42 and a beta of 1.05.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. The business had revenue of $19.96 million during the quarter, compared to analyst estimates of $16.48 million. As a group, research analysts forecast that AFC Gamma will post 1.69 EPS for the current fiscal year.

AFC Gamma Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 13.47%. The ex-dividend date was Monday, September 30th. AFC Gamma’s dividend payout ratio is currently 180.82%.

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.