Analysts Set AFC Gamma, Inc. (NASDAQ:AFCG) Target Price at $11.00

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the four analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $11.00.

A number of equities analysts have recently commented on AFCG shares. Jefferies Financial Group reduced their price objective on shares of AFC Gamma from $16.00 to $13.00 and set a "buy" rating for the company in a research note on Tuesday, September 3rd. Seaport Res Ptn upgraded AFC Gamma to a "strong-buy" rating in a research note on Tuesday, October 8th. Finally, Compass Point raised shares of AFC Gamma from a "sell" rating to a "neutral" rating and decreased their target price for the company from $10.00 to $9.00 in a research note on Friday, August 16th.

AFC Gamma Stock Up 0.6 %

Shares of NASDAQ AFCG traded up $0.06 during midday trading on Thursday, reaching $9.64. The company's stock had a trading volume of 137,240 shares, compared to its average volume of 147,860. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.35. The stock has a 50 day simple moving average of $9.96 and a 200-day simple moving average of $10.51. The stock has a market capitalization of $211.60 million, a price-to-earnings ratio of 24.10 and a beta of 1.05. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 13.69%. The ex-dividend date of this dividend was Monday, September 30th. AFC Gamma's dividend payout ratio is currently 330.00%.

Institutional Investors Weigh In On AFC Gamma

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in 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. Ritholtz Wealth Management grew its stake in AFC Gamma by 91.1% in 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 in the last quarter. Centiva Capital LP bought a new stake in AFC Gamma during the 3rd quarter valued at $193,000. Spire Wealth Management lifted its position in shares of AFC Gamma by 141.5% during the second quarter. Spire Wealth Management now owns 29,700 shares of the company's stock worth $362,000 after acquiring an additional 17,400 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of 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. Hedge funds and other institutional investors 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.