AFC Gamma Inc. (NASDAQ:AFCG) Given Consensus Rating of "Hold" by Brokerages

Key Points

• AFC Gamma Inc. has received a consensus rating of "Hold" from five brokerages, with a price target averaging $5.75 per share.
• Insider purchases have been significant, with Director Leonard M. Tannenbaum acquiring 330,127 shares and CEO Daniel Neville buying 12,388 shares recently.
• The company has announced a quarterly dividend of $0.15 per share, reflecting an annualized dividend yield of 15.3%.

Shares of AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) have received a consensus recommendation of "Hold" from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $5.75.

A number of equities analysts have recently issued reports on AFCG shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AFC Gamma in a research report on Saturday, September 27th. Alliance Global Partners downgraded AFC Gamma from a "buy" rating to a "hold" rating and set a $4.50 price target on the stock. in a research report on Friday, August 15th.

Insiders Place Their Bets

In other news, Director Leonard M. Tannenbaum bought 330,127 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were purchased at an average cost of $4.81 per share, with a total value of $1,587,910.87. Following the transaction, the director directly owned 4,665,150 shares in the company, valued at approximately $22,439,371.50. The trade was a 7.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel Neville bought 12,388 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average cost of $4.44 per share, for a total transaction of $55,002.72. Following the completion of the transaction, the chief executive officer owned 209,649 shares in the company, valued at $930,841.56. This trade represents a 6.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,030,683 shares of company stock worth $4,590,274. Insiders own 25.10% of the company's stock.

AFC Gamma Stock Performance

Shares of NASDAQ:AFCG opened at $3.91 on Friday. The company has a market capitalization of $88.33 million, a price-to-earnings ratio of -9.54 and a beta of 1.04. AFC Gamma has a 52 week low of $3.44 and a 52 week high of $10.50. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $4.36 and a 200 day moving average of $4.86.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 15.3%. AFC Gamma's dividend payout ratio is presently -146.34%.

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.

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