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

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

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

Insider Transactions at AFC Gamma

In other news, Director Leonard M. Tannenbaum purchased 50,000 shares of AFC Gamma stock in a transaction dated Monday, March 17th. The shares were bought at an average cost of $6.20 per share, with a total value of $310,000.00. Following the completion of the transaction, the director now directly owns 3,959,876 shares in the company, valued at $24,551,231.20. This trade represents a 1.28 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Neville purchased 30,349 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $6.52 per share, with a total value of $197,875.48. Following the acquisition, the chief executive officer now directly owns 161,011 shares in the company, valued at $1,049,791.72. This trade represents a 23.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 146,606 shares of company stock worth $930,691. 26.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its position 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 period. State Street Corp raised its holdings in 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. Geode Capital Management LLC lifted its stake in AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after buying an additional 8,877 shares in the last quarter. Barclays PLC boosted its holdings 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 buying an additional 16,245 shares during the period. Finally, Martingale Asset Management L P increased its position in shares of AFC Gamma by 24.1% during the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock worth $172,000 after acquiring an additional 4,005 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors.

AFC Gamma Stock Performance

Shares of AFC Gamma stock opened at $5.32 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. The firm has a 50 day simple moving average of $6.34 and a 200 day simple moving average of $8.15. AFC Gamma has a fifty-two week low of $4.34 and a fifty-two week high of $12.74. The firm has a market cap of $120.21 million, a P/E ratio of 13.30 and a beta of 1.19.

AFC Gamma Announces Dividend

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

AFC Gamma Company Profile

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.