AFC Gamma (NASDAQ:AFCG) Stock Price Down 4.9% - Time to Sell?

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

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut AFC Gamma from a "buy" rating to a "hold" rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $9.67.

AFC Gamma Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 3.31 and a quick ratio of 3.31. The firm's 50 day moving average is $5.03 and its 200 day moving average is $6.51. The firm has a market cap of $103.28 million, a P/E ratio of 4.62 and a beta of 1.07.

AFC Gamma Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.15 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.13%. AFC Gamma's dividend payout ratio is currently 60.61%.

Hedge Funds Weigh In On AFC Gamma

A hedge fund recently raised its stake in AFC Gamma stock. Martingale Asset Management L P increased its position in AFC Gamma Inc. (NASDAQ:AFCG - Free Report) by 24.1% during the fourth quarter, according to the company in 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 approximately 0.09% of AFC Gamma worth $172,000 at the end of the most recent reporting period. 26.53% of the stock is owned by institutional investors.

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.