JMP Securities Reiterates “Market Perform” Rating for AFC Gamma (NASDAQ:AFCG)

AFC Gamma (NASDAQ:AFCG)‘s stock had its “market perform” rating restated by equities researchers at JMP Securities in a research note issued on Thursday, Benzinga reports.

Separately, Compass Point lowered AFC Gamma from a “neutral” rating to a “sell” rating and set a $10.00 target price on the stock. in a report on Tuesday, May 28th.

AFC Gamma Stock Performance

NASDAQ AFCG traded up $0.12 on Thursday, reaching $11.74. The stock had a trading volume of 52,003 shares, compared to its average volume of 117,091. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.86 and a current ratio of 4.86. AFC Gamma has a 12-month low of $10.41 and a 12-month high of $14.60. The business’s 50-day moving average price is $12.10 and its 200 day moving average price is $12.01. The stock has a market cap of $242.67 million, a P/E ratio of 22.58 and a beta of 1.01.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $16.36 million during the quarter, compared to analysts’ expectations of $18.50 million. AFC Gamma had a net margin of 16.27% and a return on equity of 11.77%. As a group, equities analysts expect that AFC Gamma will post 1.92 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Leonard M. Tannenbaum bought 31,335 shares of the stock in a transaction on Wednesday, June 5th. The shares were bought at an average price of $12.09 per share, with a total value of $378,840.15. Following the completion of the acquisition, the chairman now owns 3,775,973 shares of the company’s stock, valued at $45,651,513.57. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 26.20% of the stock is currently owned by corporate insiders.

Institutional Trading of AFC Gamma

Several large investors have recently bought and sold shares of AFCG. Spire Wealth Management acquired a new stake in AFC Gamma in the fourth quarter valued at $65,000. Tower Research Capital LLC TRC lifted its position in AFC Gamma by 45.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,030 shares of the company’s stock worth $85,000 after buying an additional 2,212 shares during the period. Quest Partners LLC purchased a new position in AFC Gamma during the fourth quarter worth about $87,000. SG Americas Securities LLC purchased a new position in AFC Gamma during the fourth quarter worth about $108,000. Finally, Ritholtz Wealth Management purchased a new position in AFC Gamma during the fourth quarter worth about $124,000. Institutional investors and hedge funds 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.