Brokerages Set AFC Gamma Inc. (NASDAQ:AFCG) Target Price at $5.75

Key Points

• AFC Gamma Inc. has received an average rating of "Moderate Buy" from analysts, with one strong buy recommendation and three hold ratings, while the average target price is $5.75.
• Insider activity has increased as CEO Daniel Neville and Director Leonard M. Tannenbaum purchased significant shares, contributing to a 6.28% and 1.63% increase in their respective holdings.
• The company's stock has decreased by 0.7% recently, with its current price at $4.55, and it has a dividend yield of 13.2% despite a negative payout ratio.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the four research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.75.

Separately, Alliance Global Partners downgraded AFC Gamma from a "buy" rating to a "hold" rating and set a $4.50 target price for the company. in a report on Friday, August 15th.

AFC Gamma Stock Performance

NASDAQ:AFCG traded up $0.07 during midday trading on Tuesday, reaching $4.63. The stock had a trading volume of 161,156 shares, compared to its average volume of 356,333. The firm has a fifty day simple moving average of $4.48 and a two-hundred day simple moving average of $5.20. AFC Gamma has a 12-month low of $3.44 and a 12-month high of $10.88. 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 stock has a market cap of $104.59 million, a P/E ratio of -11.29 and a beta of 1.07.

Insiders Place Their Bets

In other AFC Gamma news, Director Leonard M. Tannenbaum bought 79,665 shares of AFC Gamma stock in a transaction on Friday, September 5th. The stock was bought at an average price of $4.56 per share, with a total value of $363,272.40. Following the completion of the acquisition, the director owned 4,962,171 shares in the company, valued at $22,627,499.76. The trade was a 1.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Neville bought 12,388 shares of AFC Gamma stock in a transaction on Monday, September 8th. The stock was acquired at an average cost of $4.44 per share, with a total value of $55,002.72. Following the acquisition, the chief executive officer owned 209,649 shares of the company's stock, valued at $930,841.56. This trade represents a 6.28% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 1,030,683 shares of company stock valued at $4,590,274. 26.80% of the stock is owned by corporate insiders.

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.