AFC Gamma, Inc. (NASDAQ:AFCG) Receives $9.67 Average Price Target from Analysts

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.67.

Several brokerages have recently issued reports on AFCG. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Jefferies Financial Group downgraded AFC Gamma from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.00 to $7.00 in a research report on Friday, March 14th.

AFC Gamma Price Performance

NASDAQ AFCG opened at $5.32 on Friday. The company has a market cap of $120.21 million, a P/E ratio of 13.30 and a beta of 1.19. AFC Gamma has a 1 year low of $4.34 and a 1 year high of $12.74. 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 company has a fifty day simple moving average of $6.34 and a 200 day simple moving average of $8.15.

AFC Gamma Dividend Announcement

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

Insider Buying and Selling at AFC Gamma

In related news, Director Leonard M. Tannenbaum purchased 32,007 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $6.52 per share, with a total value of $208,685.64. Following the purchase, the director now directly owns 3,909,876 shares in the company, valued at $25,492,391.52. This represents a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Daniel Neville acquired 16,250 shares of the company’s stock in a transaction on Monday, March 17th. The shares were bought at an average price of $6.32 per share, with a total value of $102,700.00. Following the completion of the purchase, the chief executive officer now directly owns 177,261 shares of the company’s stock, valued at approximately $1,120,289.52. This represents a 10.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 146,606 shares of company stock valued at $930,691 in the last 90 days. 26.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AFC Gamma

Institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after purchasing an additional 85,655 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 acquiring an additional 10,320 shares in the last quarter. Geode Capital Management LLC grew its position in AFC Gamma by 57.8% during 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 during the last quarter. Barclays PLC increased its holdings 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 in the last quarter. Finally, Martingale Asset Management L P raised its position 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 purchasing an additional 4,005 shares during the last quarter. Institutional investors and hedge funds 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.