AFC Gamma, Inc. (NASDAQ:AFCG) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the four analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $11.00.

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

Institutional Investors Weigh In On AFC Gamma

A number of large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its position in shares of AFC Gamma by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company's stock valued at $284,000 after purchasing an additional 1,071 shares in the last quarter. Anson Funds Management LP purchased a new stake in AFC Gamma in the 1st quarter valued at $319,000. Spire Wealth Management increased its stake in shares of AFC Gamma by 141.5% in the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company's stock worth $362,000 after acquiring an additional 17,400 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of AFC Gamma by 51.1% during the 2nd quarter. Ritholtz Wealth Management now owns 31,822 shares of the company's stock worth $388,000 after acquiring an additional 10,758 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of AFC Gamma by 88.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 46,806 shares of the company's stock valued at $579,000 after acquiring an additional 21,915 shares during the last quarter. Hedge funds and other institutional investors own 26.53% of the company's stock.

AFC Gamma Stock Performance

AFCG stock traded down $0.10 during midday trading on Friday, hitting $9.65. 103,595 shares of the stock traded hands, compared to its average volume of 145,910. The stock's fifty day simple moving average is $10.21 and its 200-day simple moving average is $10.79. The firm has a market cap of $199.47 million, a P/E ratio of 13.22 and a beta of 1.05. AFC Gamma has a 1-year low of $8.06 and a 1-year high of $13.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.77 and a quick ratio of 4.77.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.05. The firm had revenue of $19.96 million for the quarter, compared to analysts' expectations of $16.48 million. AFC Gamma had a return on equity of 12.41% and a net margin of 21.97%. On average, analysts expect that AFC Gamma will post 1.69 earnings per share for the current year.

AFC Gamma Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 13.68%. The ex-dividend date of this dividend was Monday, September 30th. AFC Gamma's payout ratio is 180.82%.

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.