AFC Gamma (NASDAQ:AFCG) Downgraded by Jefferies Financial Group to "Hold"

Jefferies Financial Group lowered shares of AFC Gamma (NASDAQ:AFCG - Free Report) from a buy rating to a hold rating in a report released on Friday morning, MarketBeat Ratings reports. They currently have $7.00 target price on the stock, down from their previous target price of $10.00.

Other equities research analysts also recently issued research reports about the company. Alliance Global Partners assumed coverage on AFC Gamma in a research report on Tuesday, December 17th. They set a "buy" rating and a $13.00 target price for the company. JMP Securities restated a "market perform" rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $9.67.

AFC Gamma Price Performance

AFCG traded up $0.18 during trading on Friday, hitting $6.48. The company's stock had a trading volume of 439,659 shares, compared to its average volume of 171,294. The firm's 50 day moving average price is $8.30 and its two-hundred day moving average price is $9.24. 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 12 month low of $6.08 and a 12 month high of $13.28. The stock has a market capitalization of $142.26 million, a price-to-earnings ratio of 16.20 and a beta of 1.03.

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AFC Gamma Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Monday, March 31st. AFC Gamma's dividend payout ratio is presently 115.00%.

Insider Activity at AFC Gamma

In related news, CEO Daniel Neville acquired 30,349 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $6.52 per share, for a total transaction of $197,875.48. Following the completion of the acquisition, the chief executive officer now owns 161,011 shares of the company's stock, valued at $1,049,791.72. This trade represents a 23.23 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leonard M. Tannenbaum acquired 50,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $6.20 per share, with a total value of $310,000.00. Following the acquisition, the director now directly owns 3,959,876 shares of the company's stock, valued at $24,551,231.20. The trade was a 1.28 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 136,606 shares of company stock worth $868,941. 26.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its stake in AFC Gamma by 19.7% in the third quarter. Tidal Investments LLC now owns 519,610 shares of the company's stock valued at $5,305,000 after acquiring an additional 85,655 shares during the period. Charles Schwab Investment Management Inc. grew its stake in AFC Gamma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company's stock valued at $515,000 after acquiring an additional 2,200 shares during the period. State Street Corp grew its stake in AFC Gamma by 2.8% in the third quarter. State Street Corp now owns 376,611 shares of the company's stock valued at $3,968,000 after acquiring an additional 10,320 shares during the period. Geode Capital Management LLC grew its stake in AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock valued at $248,000 after acquiring an additional 8,877 shares during the period. Finally, Barclays PLC grew its stake in AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company's stock valued at $231,000 after acquiring an additional 16,245 shares during the period. 26.53% of the stock is owned by institutional investors and hedge funds.

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.