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

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

Several analysts recently weighed in on AFCG shares. Jefferies Financial Group downgraded AFC Gamma from a "buy" rating to a "hold" rating and cut their price target for the stock from $10.00 to $7.00 in a research note on Friday, March 14th. JMP Securities reissued a "market perform" rating on shares of AFC Gamma in a report on Thursday, January 23rd.

Insider Buying and Selling

In other AFC Gamma news, CEO Daniel Neville acquired 16,250 shares of AFC Gamma stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average cost of $6.32 per share, for a total transaction of $102,700.00. Following the acquisition, the chief executive officer now owns 177,261 shares of the company's stock, valued at $1,120,289.52. This represents a 10.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leonard M. Tannenbaum bought 50,000 shares of the stock in a transaction on Monday, March 17th. The shares were bought at an average price of $6.20 per share, for a total transaction of $310,000.00. Following the purchase, the director now directly owns 3,959,876 shares in the company, valued at approximately $24,551,231.20. This trade represents a 1.28 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 146,606 shares of company stock worth $930,691 in the last three months. Insiders own 26.80% of the company's stock.

Institutional Investors Weigh In On AFC Gamma

Several institutional investors and hedge funds have recently added to or reduced their stakes in AFCG. McIlrath & Eck LLC bought a new position in shares of AFC Gamma during the 3rd quarter valued at $52,000. Martingale Asset Management L P increased its position in AFC Gamma by 24.1% during the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company's stock valued at $172,000 after acquiring an additional 4,005 shares during the last quarter. Barclays PLC lifted its holdings in AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company's stock valued at $231,000 after acquiring an additional 16,245 shares during the period. Geode Capital Management LLC boosted its position in AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock worth $248,000 after purchasing an additional 8,877 shares during the last quarter. Finally, State Street Corp grew its stake in shares of AFC Gamma by 2.8% during the 3rd quarter. State Street Corp now owns 376,611 shares of the company's stock valued at $3,968,000 after purchasing an additional 10,320 shares during the period. Hedge funds and other institutional investors own 26.53% of the company's stock.

AFC Gamma Stock Down 1.3 %

NASDAQ:AFCG traded down $0.07 during mid-day trading on Friday, hitting $5.44. 101,607 shares of the company's stock were exchanged, compared to its average volume of 184,013. The company has a market cap of $122.92 million, a PE ratio of 13.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. AFC Gamma has a one year low of $4.34 and a one year high of $12.74. The business has a fifty day moving average price of $6.23 and a 200 day moving average price of $8.10.

AFC Gamma Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.23 per share. The ex-dividend date was Monday, March 31st. AFC Gamma's payout ratio is 115.00%.

About AFC Gamma

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.