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

Shares of AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.67.

AFCG has been the subject of a number of analyst reports. Jefferies Financial Group downgraded shares of AFC Gamma from a "buy" rating to a "hold" rating and cut their price objective for the stock from $10.00 to $7.00 in a research report on Friday, March 14th. JMP Securities reissued a "market perform" rating on shares of AFC Gamma in a research note on Thursday, January 23rd.

Insider Activity

In other news, Director Leonard M. Tannenbaum acquired 50,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $6.20 per share, with a total value of $310,000.00. Following the purchase, the director now directly owns 3,959,876 shares of the company's stock, valued at approximately $24,551,231.20. This trade represents a 1.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel Neville acquired 30,349 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $6.52 per share, with a total value of $197,875.48. Following the completion of the purchase, the chief executive officer now directly owns 161,011 shares in the company, valued at $1,049,791.72. This represents a 23.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 146,606 shares of company stock worth $930,691 in the last 90 days. 26.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AFC Gamma

An institutional investor recently raised its position in AFC Gamma stock. Martingale Asset Management L P boosted its position in AFC Gamma, Inc. (NASDAQ:AFCG - Free Report) by 24.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,623 shares of the company's stock after purchasing an additional 4,005 shares during the period. Martingale Asset Management L P owned about 0.09% of AFC Gamma worth $172,000 as of its most recent SEC filing. Institutional investors own 26.53% of the company's stock.

AFC Gamma Stock Down 2.5%

AFCG opened at $4.98 on Thursday. The business has a 50 day moving average price of $5.47 and a two-hundred day moving average price of $7.65. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The company has a market cap of $112.53 million, a PE ratio of 12.45 and a beta of 1.19. AFC Gamma has a 52 week low of $4.34 and a 52 week high of $12.74.

AFC Gamma Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 31st. AFC Gamma's dividend payout ratio is presently 92.93%.

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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