AFC Gamma (NASDAQ:AFCG) Earns “Market Perform” Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of AFC Gamma (NASDAQ:AFCG) in a report issued on Thursday,Benzinga reports.

Several other research analysts have also commented on the company. Alliance Global Partners initiated coverage on AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target on the stock. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.67.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $8.13 on Thursday. AFC Gamma has a 1 year low of $7.94 and a 1 year high of $13.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The firm has a market cap of $178.45 million, a price-to-earnings ratio of 20.33 and a beta of 1.05. The stock’s 50-day moving average is $8.98 and its two-hundred day moving average is $9.54.

AFC Gamma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.33 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 16.24%. AFC Gamma’s dividend payout ratio (DPR) is currently 330.00%.

Institutional Investors Weigh In On AFC Gamma

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC grew its position in AFC Gamma by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after buying an additional 85,655 shares during the last quarter. State Street Corp raised its holdings in AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares in the last quarter. Renaissance Technologies LLC lifted its position in AFC Gamma by 1.4% in the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock valued at $1,640,000 after purchasing an additional 1,900 shares during the period. Penserra Capital Management LLC boosted its holdings in AFC Gamma by 22.9% in the 3rd 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 in the last quarter. Finally, Ritholtz Wealth Management increased its position in AFC Gamma by 91.1% during the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock worth $621,000 after purchasing an additional 28,998 shares during the period. Hedge funds and other institutional investors own 26.53% of the company’s stock.

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.