AFC Gamma, Inc. (NASDAQ:AFCG) Receives $11.67 Average Price Target from Analysts

AFC Gamma, Inc. (NASDAQ:AFCG) has earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $11.67.

A number of brokerages have commented on AFCG. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group reduced their price objective on AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Finally, Alliance Global Partners assumed coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 target price on the stock.

AFC Gamma Stock Up 2.3 %

AFCG opened at $8.91 on Monday. The company has a market cap of $195.60 million, a PE ratio of 22.28 and a beta of 1.03. AFC Gamma has a twelve month low of $8.06 and a twelve month high of $13.35. The company has a 50-day moving average price of $9.59 and a 200 day moving average price of $10.11. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 14.81%. AFC Gamma’s payout ratio is 330.00%.

Hedge Funds Weigh In On AFC Gamma

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its position in shares of AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after purchasing an additional 85,655 shares in the last quarter. State Street Corp grew its stake in shares of 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 in the last quarter. Renaissance Technologies LLC increased its position in shares of AFC Gamma by 1.4% during the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after acquiring an additional 1,900 shares during the period. AdvisorShares Investments LLC raised its stake in shares of AFC Gamma by 14.7% in the second quarter. AdvisorShares Investments LLC now owns 124,606 shares of the company’s stock valued at $1,505,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in AFC Gamma by 22.9% in the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after purchasing an additional 14,570 shares during the period. 26.53% of the stock is currently owned by institutional investors and hedge funds.

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.