AFC Gamma (NASDAQ:AFCG) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group lowered shares of AFC Gamma (NASDAQ:AFCG) from a buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat reports. Jefferies Financial Group currently has $7.00 target price on the stock, down from their prior target price of $10.00.

A number of other research analysts have also commented on the company. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Alliance Global Partners started coverage on AFC Gamma in a report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target on the stock. Three 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.67.

AFC Gamma Price Performance

Shares of AFCG opened at $6.62 on Friday. The firm has a market capitalization of $145.33 million, a price-to-earnings ratio of 16.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. AFC Gamma has a one year low of $6.10 and a one year high of $13.28. The stock’s fifty day moving average is $8.34 and its 200-day moving average is $9.27.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AFCG. GSA Capital Partners LLP acquired a new position in AFC Gamma during the third quarter worth about $140,000. Charles Schwab Investment Management Inc. increased its position in AFC Gamma by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after buying an additional 2,200 shares during the period. Penserra Capital Management LLC increased its position in AFC Gamma by 22.9% in the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after buying an additional 14,570 shares during the period. Centiva Capital LP bought a new position in AFC Gamma in the 3rd quarter worth approximately $193,000. Finally, State Street Corp increased its position in AFC Gamma by 2.8% in the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after buying an additional 10,320 shares during the period. 26.53% of the stock is owned by institutional investors and hedge funds.

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.