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

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $11.67.

Several brokerages recently commented on AFCG. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research note on Thursday. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Alliance Global Partners began coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company.

Hedge Funds Weigh In On AFC Gamma

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in shares of AFC Gamma by 15.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company’s stock worth $924,000 after acquiring an additional 10,016 shares during the last quarter. Renaissance Technologies LLC raised its holdings in AFC Gamma by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock valued at $1,640,000 after buying an additional 1,900 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in AFC Gamma by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock valued at $284,000 after buying an additional 1,071 shares during the last quarter. Ritholtz Wealth Management raised its holdings in AFC Gamma by 91.1% during the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after buying an additional 28,998 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in AFC Gamma during the 3rd quarter valued at $140,000. Hedge funds and other institutional investors own 26.53% of the company’s stock.

AFC Gamma Price Performance

AFCG opened at $8.12 on Friday. The firm has a 50-day moving average price of $9.00 and a 200-day moving average price of $9.58. The company has a market capitalization of $178.23 million, a price-to-earnings ratio of 20.30 and a beta of 1.05. AFC Gamma has a twelve month low of $7.94 and a twelve month high of $13.28. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis and a yield of 16.26%. AFC Gamma’s dividend payout ratio is presently 330.00%.

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.