AFC Gamma, Inc. (NASDAQ:AFCG) Receives $11.00 Consensus Target Price from Analysts

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have earned an average rating of “Moderate Buy” from the four ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

A number of equities research analysts have recently issued reports on AFCG shares. Compass Point raised shares of AFC Gamma from a “sell” rating to a “neutral” rating and reduced their price target for the company from $10.00 to $9.00 in a research note on Friday, August 16th. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group lowered their price target on AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Finally, JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a report on Thursday, June 27th.

Hedge Funds Weigh In On AFC Gamma

Several institutional investors have recently modified their holdings of AFCG. Tidal Investments LLC acquired a new stake in shares of AFC Gamma in the first quarter valued at $7,001,000. Wasatch Advisors LP raised its position in AFC Gamma by 86.3% in the 4th quarter. Wasatch Advisors LP now owns 573,915 shares of the company’s stock valued at $6,904,000 after purchasing an additional 265,835 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of AFC Gamma by 91.1% in the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after buying an additional 28,998 shares during the period. Anson Funds Management LP acquired a new position in shares of AFC Gamma during the first quarter worth about $319,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of AFC Gamma by 9.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company’s stock worth $3,519,000 after buying an additional 24,506 shares during the period. Institutional investors and hedge funds own 26.53% of the company’s stock.

AFC Gamma Price Performance

AFCG stock opened at $10.20 on Wednesday. AFC Gamma has a 52-week low of $8.06 and a 52-week high of $13.35. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.11. The stock has a market cap of $210.80 million, a price-to-earnings ratio of 19.62 and a beta of 1.05. The business has a fifty day moving average of $10.15 and a two-hundred day moving average of $10.95.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. AFC Gamma had a return on equity of 12.41% and a net margin of 21.97%. The firm had revenue of $19.96 million during the quarter, compared to the consensus estimate of $16.48 million. As a group, research analysts anticipate that AFC Gamma will post 1.66 earnings per share for the current year.

AFC Gamma Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 12.94%. AFC Gamma’s dividend payout ratio (DPR) is presently 253.85%.

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.