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

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have been given a consensus rating of “Moderate Buy” by the five brokerages that are covering the company, MarketBeat.com reports. Three 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. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $9.67.

Several analysts recently commented on AFCG shares. Jefferies Financial Group cut shares of AFC Gamma from a “buy” rating to a “hold” rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Friday, March 14th. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd.

Insider Buying and Selling

In related news, CEO Daniel Neville purchased 16,250 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was bought at an average cost of $6.32 per share, with a total value of $102,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 177,261 shares in the company, valued at $1,120,289.52. The trade was a 10.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leonard M. Tannenbaum acquired 50,000 shares of AFC Gamma stock in a transaction dated Monday, March 17th. The stock was bought at an average price of $6.20 per share, for a total transaction of $310,000.00. Following the completion of the transaction, the director now directly owns 3,959,876 shares of the company’s stock, valued at approximately $24,551,231.20. This represents a 1.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 146,606 shares of company stock worth $930,691 in the last ninety days. Insiders own 26.80% of the company’s stock.

Hedge Funds Weigh In On AFC Gamma

A number of institutional investors have recently modified their holdings of the company. Martingale Asset Management L P raised its holdings in AFC Gamma by 24.1% in the 4th quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock valued at $172,000 after acquiring an additional 4,005 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after purchasing an additional 85,655 shares during the last quarter. Barclays PLC grew its position in shares of AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after purchasing an additional 16,245 shares during the period. McIlrath & Eck LLC acquired a new position in AFC Gamma in the third quarter valued at $52,000. Finally, Geode Capital Management LLC lifted its position in AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after buying an additional 8,877 shares during the period. Institutional investors and hedge funds own 26.53% of the company’s stock.

AFC Gamma Trading Down 1.3 %

NASDAQ:AFCG opened at $5.29 on Friday. AFC Gamma has a 1 year low of $4.34 and a 1 year high of $12.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The stock has a fifty day moving average price of $6.47 and a two-hundred day moving average price of $8.21. The stock has a market capitalization of $119.53 million, a price-to-earnings ratio of 13.23 and a beta of 1.19.

AFC Gamma Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 31st. AFC Gamma’s dividend payout ratio is presently 115.00%.

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.