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

AFC Gamma, Inc. (NASDAQ:AFCG) has been given a consensus rating of “Moderate Buy” by the five research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.67.

AFCG has been the subject of several analyst reports. Alliance Global Partners initiated coverage on AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd.

AFC Gamma Stock Up 0.1 %

Shares of NASDAQ AFCG opened at $8.41 on Friday. The company has a market capitalization of $184.62 million, a P/E ratio of 21.03 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. The company has a 50 day simple moving average of $8.42 and a 200-day simple moving average of $9.37. AFC Gamma has a 1 year low of $7.80 and a 1 year high of $13.28.

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 15.70%. The ex-dividend date was Tuesday, December 31st. AFC Gamma’s payout ratio is 330.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC raised its holdings in shares of AFC Gamma by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after buying an additional 85,655 shares during the period. State Street Corp increased its stake in AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares during the period. Penserra Capital Management LLC lifted its position in shares of AFC Gamma by 22.9% during the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after purchasing an additional 14,570 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AFC Gamma by 4.6% in the third 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 during the period. Finally, Geode Capital Management LLC boosted its stake in shares of AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after purchasing an additional 8,877 shares during the period. 26.53% of the stock is currently owned by hedge funds and other institutional investors.

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.