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

AFC Gamma, Inc. (NASDAQ:AFCG) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $9.67.

AFCG has been the subject of a number of research analyst reports. Jefferies Financial Group downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.00 to $7.00 in a research report on Friday, March 14th. Alliance Global Partners initiated coverage on AFC Gamma in a report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company. Finally, JMP Securities restated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd.

Insider Transactions at AFC Gamma

In other news, CEO Daniel Neville bought 5,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $6.20 per share, for a total transaction of $31,000.00. Following the completion of the acquisition, the chief executive officer now owns 182,261 shares in the company, valued at approximately $1,130,018.20. This represents a 2.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leonard M. Tannenbaum purchased 50,000 shares of AFC Gamma stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average price of $6.20 per share, with a total value of $310,000.00. Following the acquisition, the director now directly owns 3,959,876 shares of the company’s stock, valued at $24,551,231.20. This trade represents a 1.28 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 146,606 shares of company stock valued at $930,691 over the last quarter. Corporate insiders own 26.20% of the company’s stock.

Institutional Trading of AFC Gamma

Several large investors have recently modified their holdings of the stock. Martingale Asset Management L P boosted its stake in shares of 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 purchasing an additional 4,005 shares during the last quarter. Tidal Investments LLC grew 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 valued at $5,305,000 after buying an additional 85,655 shares during the last quarter. Barclays PLC boosted its stake in AFC Gamma by 257.0% during the 3rd 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 last quarter. McIlrath & Eck LLC bought a new stake in AFC Gamma during the third quarter worth $52,000. Finally, Geode Capital Management LLC grew its stake in shares of AFC Gamma by 57.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after acquiring an additional 8,877 shares in the last quarter. 26.53% of the stock is owned by institutional investors and hedge funds.

AFC Gamma Trading Down 7.0 %

Shares of AFCG opened at $5.05 on Wednesday. The business’s 50-day moving average price is $7.64 and its 200 day moving average price is $8.81. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $114.11 million, a P/E ratio of 12.63 and a beta of 1.19. AFC Gamma has a 1-year low of $4.97 and a 1-year high of $12.74.

AFC Gamma Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 31st. AFC Gamma’s dividend payout ratio is currently 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.