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

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have received a consensus recommendation of “Moderate Buy” from the four research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $11.00.

A number of analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective 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. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Compass Point upgraded 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 research report on Friday, August 16th.

AFC Gamma Trading Up 0.6 %

Shares of AFC Gamma stock opened at $9.64 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. AFC Gamma has a 1 year low of $8.06 and a 1 year high of $13.35. The firm has a market cap of $211.60 million, a PE ratio of 24.10 and a beta of 1.05. The company has a 50 day simple moving average of $9.96 and a two-hundred day simple moving average of $10.51.

AFC Gamma Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.33 dividend. 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 payout ratio is presently 330.00%.

Institutional Trading of AFC Gamma

Institutional investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC purchased a new position in shares of AFC Gamma in the third quarter worth about $52,000. GSA Capital Partners LLP bought a new position in AFC Gamma during the 3rd quarter worth approximately $140,000. Centiva Capital LP bought a new position in AFC Gamma during the 3rd quarter worth approximately $193,000. Barclays PLC increased its stake in AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in AFC Gamma by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock valued at $284,000 after purchasing an additional 1,071 shares during the last quarter. 26.53% of the stock is currently owned by hedge funds and other institutional investors.

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.