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

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) has been given an average rating of "Moderate Buy" by the five research firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $9.67.

Separately, Jefferies Financial Group downgraded AFC Gamma from a "buy" rating to a "hold" rating and reduced their target price for the stock from $10.00 to $7.00 in a report on Friday, March 14th.

Insiders Place Their Bets

In related news, CEO Daniel Neville purchased 30,349 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $6.52 per share, for a total transaction of $197,875.48. Following the purchase, the chief executive officer now directly owns 161,011 shares of the company's stock, valued at approximately $1,049,791.72. This represents a 23.23% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leonard M. Tannenbaum acquired 50,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average cost of $6.20 per share, for a total transaction of $310,000.00. Following the completion of the transaction, the director now directly owns 3,959,876 shares in the company, valued at $24,551,231.20. This represents a 1.28% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 146,606 shares of company stock worth $930,691. Company insiders own 26.80% of the company's stock.

Hedge Funds Weigh In On AFC Gamma

An institutional investor recently raised its position in AFC Gamma stock. Barclays PLC increased its stake in AFC Gamma, Inc. (NASDAQ:AFCG - Free Report) by 257.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,567 shares of the company's stock after purchasing an additional 16,245 shares during the quarter. Barclays PLC owned approximately 0.10% of AFC Gamma worth $231,000 at the end of the most recent quarter. 26.53% of the stock is owned by institutional investors and hedge funds.

AFC Gamma Stock Up 5.3%

Shares of AFCG stock traded up $0.25 during midday trading on Thursday, reaching $4.97. 217,175 shares of the stock were exchanged, compared to its average volume of 189,282. AFC Gamma has a 1 year low of $4.34 and a 1 year high of $12.74. The company's 50 day moving average is $5.34 and its two-hundred day moving average is $7.50. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The firm has a market cap of $112.30 million, a PE ratio of 12.43 and a beta of 1.19.

AFC Gamma Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, March 31st. AFC Gamma's dividend payout ratio (DPR) is 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.