AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report)'s stock price dropped 4.9% during mid-day trading on Monday . The stock traded as low as $4.47 and last traded at $4.47. Approximately 203,041 shares were traded during trading, an increase of 2% from the average daily volume of 199,523 shares. The stock had previously closed at $4.70.
Analysts Set New Price Targets
Separately, Jefferies Financial Group downgraded AFC Gamma from a "buy" rating to a "hold" rating and reduced their target price for the company from $10.00 to $7.00 in a report on Friday, March 14th. Three investment 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's stock. According to data from MarketBeat, AFC Gamma presently has a consensus rating of "Moderate Buy" and an average price target of $9.67.
Check Out Our Latest Report on AFC Gamma
AFC Gamma Price Performance
The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.31 and a current ratio of 3.31. The company has a 50-day simple moving average of $5.05 and a 200-day simple moving average of $6.54. The company has a market cap of $104.66 million, a price-to-earnings ratio of 4.69 and a beta of 1.07.
AFC Gamma Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 12.96%. The ex-dividend date of this dividend is Monday, June 30th. AFC Gamma's payout ratio is currently 60.61%.
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 Company Profile
(
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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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