Brokerages Set AFC Gamma, Inc. (NASDAQ:AFCG) Price Target at $9.67

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

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

Insiders Place Their Bets

In related news, Director Leonard M. Tannenbaum bought 50,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were purchased at an average price of $6.20 per share, with a total value of $310,000.00. Following the completion of the purchase, the director now owns 3,959,876 shares of the company’s stock, valued at $24,551,231.20. This represents a 1.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel Neville bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average price of $6.20 per share, with a total value of $31,000.00. Following the completion of the transaction, the chief executive officer now directly owns 182,261 shares in the company, valued at approximately $1,130,018.20. This trade represents a 2.82 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 146,606 shares of company stock valued at $930,691. 26.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AFCG. McIlrath & Eck LLC bought a new stake in AFC Gamma in the third quarter valued at approximately $52,000. Martingale Asset Management L P increased its position 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 buying an additional 4,005 shares in the last quarter. Centiva Capital LP acquired a new stake in AFC Gamma during the 3rd quarter worth $193,000. Barclays PLC lifted its holdings in AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after acquiring an additional 16,245 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 acquiring an additional 8,877 shares during the period. Institutional investors own 26.53% of the company’s stock.

AFC Gamma Stock Down 8.1 %

Shares of AFCG opened at $4.56 on Wednesday. The company has a market capitalization of $103.04 million, a P/E ratio of 11.40 and a beta of 1.19. AFC Gamma has a one year low of $4.52 and a one year high of $12.74. The business’s 50 day simple moving average is $7.43 and its 200-day simple moving average is $8.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92.

AFC Gamma Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.23 dividend. The ex-dividend date is Monday, March 31st. AFC Gamma’s dividend 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.