AFC Gamma, Inc. (NASDAQ:AFCG) Receives $11.00 Average Price Target from Analysts

AFC Gamma, Inc. (NASDAQ:AFCG) has received a consensus rating of “Moderate Buy” from the four research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $11.00.

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

AFC Gamma Trading Up 0.9 %

NASDAQ:AFCG opened at $9.73 on Thursday. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.35. 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’s 50 day moving average is $9.90 and its 200 day moving average is $10.48. The stock has a market capitalization of $213.57 million, a PE ratio of 24.33 and a beta of 1.05.

AFC Gamma Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 13.57%. The ex-dividend date was Monday, September 30th. AFC Gamma’s dividend payout ratio is 330.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. McIlrath & Eck LLC bought a new position in shares of AFC Gamma in the 3rd quarter worth $52,000. GSA Capital Partners LLP purchased a new position in shares of AFC Gamma during the 3rd quarter valued at about $140,000. Centiva Capital LP bought a new stake in AFC Gamma in the 3rd quarter worth approximately $193,000. Barclays PLC lifted its position in AFC Gamma by 257.0% in 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, Geode Capital Management LLC raised its stake in shares of AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after acquiring an additional 8,877 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors.

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.