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

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $9.67.

A number of equities analysts have issued reports on AFCG shares. Jefferies Financial Group cut AFC Gamma from a “buy” rating to a “hold” rating and lowered their target price for the stock from $10.00 to $7.00 in a report on Friday, March 14th. Alliance Global Partners initiated coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd.

AFC Gamma Stock Down 8.1 %

Shares of AFCG stock opened at $4.56 on Wednesday. AFC Gamma has a 12-month low of $4.52 and a 12-month high of $12.74. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $7.43 and a 200-day moving average of $8.70. The company has a market capitalization of $103.04 million, a price-to-earnings ratio of 11.40 and a beta of 1.19.

AFC Gamma Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, March 31st. AFC Gamma’s payout ratio is presently 115.00%.

Insider Buying and Selling at AFC Gamma

In other news, Director Leonard M. Tannenbaum purchased 50,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was purchased at an average price of $6.20 per share, for a total transaction of $310,000.00. Following the completion of the purchase, the director now directly owns 3,959,876 shares in the company, valued at $24,551,231.20. The trade was a 1.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Neville acquired 5,000 shares of the stock in a transaction dated Friday, March 28th. The shares were purchased at an average price of $6.15 per share, for a total transaction of $30,750.00. Following the completion of the purchase, the chief executive officer now directly owns 187,261 shares in the company, valued at $1,151,655.15. The trade was a 2.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 146,606 shares of company stock worth $930,691 over the last ninety days. 26.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AFC Gamma

A number of hedge funds and other institutional investors have recently bought and sold shares of AFCG. Charles Schwab Investment Management Inc. lifted its holdings in AFC Gamma by 4.6% during 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 during the last quarter. Centiva Capital LP acquired a new stake in shares of AFC Gamma during the 3rd quarter worth about $193,000. State Street Corp boosted its holdings in shares of AFC Gamma by 2.8% during 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. Barclays PLC grew its stake in AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after buying an additional 16,245 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in AFC Gamma by 57.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after acquiring an additional 8,877 shares during the period. Institutional investors own 26.53% of the company’s stock.

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.