Brokerages Set AFC Gamma, Inc. (NASDAQ:AFCG) Price Target at $11.67

AFC Gamma, Inc. (NASDAQ:AFCG) has received an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $11.67.

A number of analysts have recently issued reports on AFCG shares. Alliance Global Partners began coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target for the company. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group decreased their price target on AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AFCG. Tidal Investments LLC raised its holdings in shares of AFC Gamma by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after buying an additional 85,655 shares during the period. State Street Corp increased its stake in AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares during the period. Renaissance Technologies LLC lifted its position in shares of AFC Gamma by 1.4% during the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after purchasing an additional 1,900 shares in the last quarter. AdvisorShares Investments LLC boosted its stake in shares of AFC Gamma by 14.7% in the second quarter. AdvisorShares Investments LLC now owns 124,606 shares of the company’s stock valued at $1,505,000 after purchasing an additional 16,000 shares during the period. Finally, Penserra Capital Management LLC grew its holdings in shares of AFC Gamma by 22.9% in the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after purchasing an additional 14,570 shares in the last quarter. 26.53% of the stock is currently owned by hedge funds and other institutional investors.

AFC Gamma Trading Down 2.0 %

Shares of AFCG opened at $8.69 on Monday. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $9.53 and a 200 day moving average price of $10.05. AFC Gamma has a 12-month low of $8.06 and a 12-month high of $13.28. The firm has a market capitalization of $190.77 million, a P/E ratio of 21.73 and a beta of 1.03.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 15.19%. The ex-dividend date is Tuesday, December 31st. AFC Gamma’s payout ratio is 330.00%.

AFC Gamma Company Profile

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.