AFC Gamma, Inc. (NASDAQ:AFCG) Receives $11.00 Consensus PT from Analysts

Shares of AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) have been given a consensus rating of "Moderate Buy" by the four research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $11.00.

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

AFC Gamma Stock Performance

Shares of NASDAQ AFCG traded up $0.06 during trading on Thursday, reaching $9.64. 137,240 shares of the company traded hands, compared to its average volume of 147,860. The firm has a 50 day simple moving average of $9.96 and a 200-day simple moving average of $10.51. AFC Gamma has a 52-week low of $8.06 and a 52-week high of $13.35. The stock has a market capitalization of $211.60 million, a PE ratio of 24.10 and a beta of 1.05. 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 Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in AFC Gamma by 1.4% during the second 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. Spire Wealth Management increased its position in AFC Gamma by 141.5% in the second quarter. Spire Wealth Management now owns 29,700 shares of the company's stock worth $362,000 after purchasing an additional 17,400 shares during the last quarter. Ritholtz Wealth Management raised its stake in AFC Gamma by 51.1% during the second quarter. Ritholtz Wealth Management now owns 31,822 shares of the company's stock valued at $388,000 after purchasing an additional 10,758 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of AFC Gamma by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company's stock valued at $284,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of AFC Gamma by 15.2% during the second quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company's stock worth $924,000 after purchasing an additional 10,016 shares during the last quarter. 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.