AFC Gamma’s (AFCG) Market Perform Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of AFC Gamma (NASDAQ:AFCG) in a report released on Thursday, Benzinga reports.

Separately, Compass Point downgraded AFC Gamma from a neutral rating to a sell rating and set a $10.00 price objective for the company. in a report on Tuesday, May 28th.

AFC Gamma Price Performance

Shares of AFCG stock opened at $12.20 on Thursday. The company has a market capitalization of $252.17 million, a P/E ratio of 23.46 and a beta of 1.01. The company’s 50-day simple moving average is $12.12 and its two-hundred day simple moving average is $12.01. AFC Gamma has a one year low of $10.41 and a one year high of $14.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.86 and a quick ratio of 4.86.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $16.36 million during the quarter, compared to the consensus estimate of $18.50 million. AFC Gamma had a return on equity of 11.77% and a net margin of 16.27%. As a group, equities analysts anticipate that AFC Gamma will post 1.92 EPS for the current year.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 8th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 15.74%. The ex-dividend date of this dividend is Monday, July 8th. AFC Gamma’s dividend payout ratio (DPR) is 369.24%.

Insider Buying and Selling at AFC Gamma

In related news, Chairman Leonard M. Tannenbaum bought 31,335 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were bought at an average price of $12.09 per share, for a total transaction of $378,840.15. Following the completion of the purchase, the chairman now directly owns 3,775,973 shares of the company’s stock, valued at $45,651,513.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On AFC Gamma

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in shares of AFC Gamma by 45.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,030 shares of the company’s stock valued at $85,000 after purchasing an additional 2,212 shares during the last quarter. Jump Financial LLC raised its holdings in shares of AFC Gamma by 20.3% in the fourth quarter. Jump Financial LLC now owns 21,900 shares of the company’s stock worth $263,000 after buying an additional 3,700 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of AFC Gamma by 8.1% during the first quarter. Empowered Funds LLC now owns 51,324 shares of the company’s stock worth $635,000 after buying an additional 3,850 shares during the period. AXS Investments LLC grew its holdings in shares of AFC Gamma by 4.8% during the fourth quarter. AXS Investments LLC now owns 83,873 shares of the company’s stock valued at $1,009,000 after buying an additional 3,869 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in shares of AFC Gamma by 40.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 18,300 shares of the company’s stock valued at $220,000 after acquiring an additional 5,300 shares during the period. 26.53% of the stock is currently owned by institutional investors and hedge funds.

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.