Brokerages Set AFC Gamma, Inc. (NASDAQ:AFCG) Target Price at $11.67

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the five research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $11.67.

Several research analysts have commented on the stock. Alliance Global Partners assumed coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They set a "buy" rating and a $13.00 price target for the company. JMP Securities restated a "market perform" rating on shares of AFC Gamma in a report on Thursday, January 23rd.

AFC Gamma Stock Up 0.2 %

NASDAQ AFCG traded up $0.02 on Tuesday, hitting $8.74. 152,574 shares of the stock were exchanged, compared to its average volume of 157,002. 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 has a fifty-two week low of $7.94 and a fifty-two week high of $13.28. The company has a market cap of $191.84 million, a PE ratio of 21.85 and a beta of 1.05. The company has a 50-day moving average price of $8.61 and a 200-day moving average price of $9.46.

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 15.10%. The ex-dividend date of this dividend was Tuesday, December 31st. AFC Gamma's payout ratio is 330.00%.

Institutional Trading of AFC Gamma

Several institutional investors and hedge funds have recently bought and sold shares of AFCG. Tidal Investments LLC raised its position in AFC Gamma by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company's stock valued at $5,305,000 after purchasing an additional 85,655 shares during the last quarter. Ritholtz Wealth Management raised its position in AFC Gamma by 91.1% during the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company's stock worth $621,000 after buying an additional 28,998 shares during the last quarter. Centiva Capital LP purchased a new position in AFC Gamma during the 3rd quarter worth $193,000. Barclays PLC raised its position in AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company's stock worth $231,000 after buying an additional 16,245 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in AFC Gamma by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company's stock worth $799,000 after buying an additional 14,570 shares during 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.