AFC Gamma (NASDAQ:AFCG) Stock Rating Upgraded by Seaport Res Ptn

AFC Gamma (NASDAQ:AFCG) was upgraded by stock analysts at Seaport Res Ptn to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports.

AFCG has been the topic of a number of other reports. Jefferies Financial Group decreased their target price on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Compass Point raised shares of AFC Gamma from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $9.00 in a research note on Friday, August 16th. Finally, JMP Securities restated a “market perform” rating on shares of AFC Gamma in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.00.

AFC Gamma Trading Up 1.9 %

AFCG opened at $9.88 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.77 and a quick ratio of 4.77. The company’s 50 day simple moving average is $10.06 and its two-hundred day simple moving average is $11.04. AFC Gamma has a 1-year low of $8.06 and a 1-year high of $13.35. The firm has a market capitalization of $204.19 million, a price-to-earnings ratio of 19.00 and a beta of 1.05.

AFC Gamma (NASDAQ:AFCG) last released its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $16.48 million. Analysts expect that AFC Gamma will post 2 EPS for the current fiscal year.

Institutional Trading of AFC Gamma

A number of hedge funds and other institutional investors have recently made changes to their positions in AFCG. Tidal Investments LLC acquired a new stake in AFC Gamma in the 1st quarter valued at approximately $7,001,000. Wasatch Advisors LP increased its holdings in AFC Gamma by 11.6% in the 1st quarter. Wasatch Advisors LP now owns 640,617 shares of the company’s stock valued at $7,931,000 after purchasing an additional 66,702 shares during the last quarter. Anson Funds Management LP acquired a new stake in AFC Gamma in the 1st quarter valued at approximately $319,000. Mirae Asset Global Investments Co. Ltd. grew its stake 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 worth $3,519,000 after acquiring an additional 24,506 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of AFC Gamma by 88.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 46,806 shares of the company’s stock worth $579,000 after acquiring an additional 21,915 shares in the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

About AFC Gamma

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.