AFC Gamma (NASDAQ:AFCG) Trading Down 4.9% - Should You Sell?

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) traded down 4.9% during mid-day trading on Monday . The stock traded as low as $4.47 and last traded at $4.47. 203,041 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 199,523 shares. The stock had previously closed at $4.70.

Wall Street Analysts Forecast Growth

Separately, 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 report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.67.

AFC Gamma Trading Down 0.9%

The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $102.38 million, a price-to-earnings ratio of 4.58 and a beta of 1.07. The firm has a 50-day moving average of $5.03 and a 200 day moving average of $6.51.

AFC Gamma Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 13.25%. The ex-dividend date is Monday, June 30th. AFC Gamma's dividend payout ratio is currently 60.61%.

Institutional Trading of AFC Gamma

A hedge fund recently raised its stake in AFC Gamma stock. Martingale Asset Management L P grew its position in shares of AFC Gamma Inc. (NASDAQ:AFCG - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,623 shares of the company's stock after purchasing an additional 4,005 shares during the quarter. Martingale Asset Management L P owned 0.09% of AFC Gamma worth $172,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 26.53% of the company's stock.

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.