AFC Gamma, Inc. (NASDAQ:AFCG - Free Report) - Research analysts at Seaport Res Ptn issued their Q3 2024 earnings per share estimates for shares of AFC Gamma in a research note issued to investors on Tuesday, October 8th. Seaport Res Ptn analyst S. Randhawa anticipates that the company will post earnings per share of $0.33 for the quarter. Seaport Res Ptn has a "Strong-Buy" rating on the stock. The consensus estimate for AFC Gamma's current full-year earnings is $1.66 per share. Seaport Res Ptn also issued estimates for AFC Gamma's FY2024 earnings at $1.71 EPS, Q3 2025 earnings at $0.43 EPS and Q4 2025 earnings at $0.44 EPS.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.05. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. The company had revenue of $19.96 million during the quarter, compared to analysts' expectations of $16.48 million.
Several other equities research analysts have also recently weighed in on the stock. Compass Point raised shares of AFC Gamma from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $10.00 to $9.00 in a research report on Friday, August 16th. Jefferies Financial Group cut their price target on shares of AFC Gamma from $16.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday, September 3rd. Finally, JMP Securities reissued a "market perform" rating on shares of AFC Gamma in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AFC Gamma presently has an average rating of "Moderate Buy" and a consensus target price of $11.00.
Get Our Latest Stock Report on AFC Gamma
AFC Gamma Stock Performance
NASDAQ AFCG traded up $0.10 during trading on Friday, reaching $9.72. The company's stock had a trading volume of 152,648 shares, compared to its average volume of 147,988. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.35. The firm has a 50 day moving average price of $10.07 and a 200 day moving average price of $11.03. The firm has a market capitalization of $200.91 million, a price-to-earnings ratio of 13.18 and a beta of 1.05. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.11.
AFC Gamma Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.33 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 13.58%. AFC Gamma's payout ratio is currently 180.82%.
Institutional Trading of AFC Gamma
Hedge funds have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. boosted its holdings in shares of AFC Gamma by 40.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 18,300 shares of the company's stock valued at $220,000 after acquiring an additional 5,300 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of AFC Gamma by 11.6% during the first quarter. Wasatch Advisors LP now owns 640,617 shares of the company's stock valued at $7,931,000 after purchasing an additional 66,702 shares in the last quarter. Hartline Investment Corp bought a new stake in shares of AFC Gamma during the first quarter worth about $133,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of AFC Gamma by 9.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company's stock valued at $3,519,000 after buying an additional 24,506 shares during the period. Finally, Empowered Funds LLC raised its holdings in AFC Gamma by 8.1% in the 1st quarter. Empowered Funds LLC now owns 51,324 shares of the company's stock valued at $635,000 after buying an additional 3,850 shares during the last quarter. Institutional investors and hedge funds own 26.53% of the company's stock.
About AFC Gamma
(
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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.
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