AFC Gamma, Inc. (NASDAQ:AFCG) Receives $9.67 Consensus Target Price from Brokerages

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.67.

AFCG has been the topic of several recent analyst reports. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Alliance Global Partners began coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target for the company. Finally, Jefferies Financial Group lowered shares of AFC Gamma from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.00 to $7.00 in a report on Friday, March 14th.

Insider Activity at AFC Gamma

In other news, CEO Daniel Neville bought 5,000 shares of the company’s stock in a transaction on Friday, March 28th. The shares were purchased at an average price of $6.15 per share, with a total value of $30,750.00. Following the transaction, the chief executive officer now directly owns 187,261 shares in the company, valued at $1,151,655.15. This represents a 2.74 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leonard M. Tannenbaum bought 50,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $6.20 per share, for a total transaction of $310,000.00. Following the purchase, the director now directly owns 3,959,876 shares in the company, valued at approximately $24,551,231.20. The trade was a 1.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 146,606 shares of company stock valued at $930,691 over the last ninety days. Corporate insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AFCG. Charles Schwab Investment Management Inc. raised its stake in shares of AFC Gamma by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after purchasing an additional 2,200 shares during the period. Centiva Capital LP purchased a new stake in AFC Gamma during the third quarter worth about $193,000. State Street Corp raised its position in AFC Gamma by 2.8% in the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after acquiring an additional 10,320 shares during the period. Barclays PLC boosted 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 last quarter. Finally, Geode Capital Management LLC boosted 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 last quarter. Institutional investors own 26.53% of the company’s stock.

AFC Gamma Trading Down 7.0 %

Shares of AFCG stock opened at $5.05 on Wednesday. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma has a 1-year low of $4.97 and a 1-year high of $12.74. The stock has a 50-day moving average of $7.64 and a 200-day moving average of $8.84. The stock has a market cap of $114.11 million, a price-to-earnings ratio of 12.63 and a beta of 1.03.

AFC Gamma Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.23 dividend. The ex-dividend date is Monday, March 31st. AFC Gamma’s payout ratio is 115.00%.

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.