AFC Gamma (NASDAQ:AFCG) Lowered to Hold Rating by Jefferies Financial Group

AFC Gamma (NASDAQ:AFCG) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat.com reports. They currently have a $7.00 target price on the stock, down from their previous target price of $10.00. Jefferies Financial Group’s price objective suggests a potential upside of 5.74% from the company’s previous close.

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

AFC Gamma Trading Down 2.1 %

Shares of AFCG opened at $6.62 on Friday. The firm’s 50-day moving average is $8.34 and its two-hundred day moving average is $9.27. AFC Gamma has a twelve month low of $6.10 and a twelve month high of $13.28. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $145.33 million, a P/E ratio of 16.55 and a beta of 1.03.

Institutional Investors Weigh In On AFC Gamma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. McIlrath & Eck LLC acquired a new position in shares of AFC Gamma in the third quarter worth $52,000. GSA Capital Partners LLP purchased a new stake in AFC Gamma during the 3rd quarter worth about $140,000. Martingale Asset Management L P raised its stake in AFC Gamma by 24.1% in the 4th quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock valued at $172,000 after purchasing an additional 4,005 shares during the last quarter. Centiva Capital LP purchased a new position in AFC Gamma in the 3rd quarter valued at about $193,000. Finally, Barclays PLC boosted its stake in shares of 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 purchasing an additional 16,245 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.