Centiva Capital LP Invests $193,000 in AFC Gamma, Inc. (NASDAQ:AFCG)

Centiva Capital LP bought a new stake in shares of AFC Gamma, Inc. (NASDAQ:AFCG) in the 3rd quarter, HoldingsChannel reports. The firm bought 18,864 shares of the company’s stock, valued at approximately $193,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised 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 purchasing an additional 1,071 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of AFC Gamma by 1.4% during the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after acquiring an additional 1,900 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AFC Gamma by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after purchasing an additional 2,200 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in AFC Gamma by 15.2% in the second quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company’s stock worth $924,000 after purchasing an additional 10,016 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in AFC Gamma by 51.1% in the second quarter. Ritholtz Wealth Management now owns 31,822 shares of the company’s stock valued at $388,000 after purchasing an additional 10,758 shares during the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AFCG shares. Compass Point upgraded shares of AFC Gamma from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $9.00 in a report on Friday, August 16th. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group reduced their price objective on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

AFC Gamma Stock Performance

AFCG stock opened at $9.42 on Friday. 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, Inc. has a 12-month low of $8.06 and a 12-month high of $13.35. The stock has a market capitalization of $206.80 million, a PE ratio of 23.55 and a beta of 1.03. The stock’s 50 day simple moving average is $9.75 and its 200 day simple moving average is $10.30.

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.