AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) has received an average recommendation of "Moderate Buy" from the four analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.00.
AFCG has been the subject of several analyst reports. Seaport Res Ptn raised shares of AFC Gamma to a "strong-buy" rating in a report on Tuesday, October 8th. Compass Point upgraded 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 report on Friday, August 16th. Finally, Jefferies Financial Group dropped their price objective on AFC Gamma from $16.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, September 3rd.
Get Our Latest Analysis on AFC Gamma
AFCG stock opened at $9.65 on Friday. The stock has a fifty day moving average of $10.21 and a 200-day moving average of $10.80. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.35. The company has a market capitalization of $199.47 million, a price-to-earnings ratio of 13.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.77 and a current ratio of 4.77.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.05. The firm had revenue of $19.96 million during the quarter, compared to analyst estimates of $16.48 million. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. As a group, equities research analysts predict that AFC Gamma will post 1.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.33 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.32 annualized dividend and a dividend yield of 13.68%. AFC Gamma's payout ratio is currently 180.82%.
Large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of AFC Gamma by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company's stock valued at $284,000 after acquiring an additional 1,071 shares in the last quarter. Anson Funds Management LP purchased a new stake in AFC Gamma in the first quarter valued at approximately $319,000. Spire Wealth Management lifted its position in AFC Gamma by 141.5% during the second quarter. Spire Wealth Management now owns 29,700 shares of the company's stock valued at $362,000 after purchasing an additional 17,400 shares during the last quarter. Ritholtz Wealth Management grew its stake in AFC Gamma by 51.1% in the 2nd quarter. Ritholtz Wealth Management now owns 31,822 shares of the company's stock worth $388,000 after buying an additional 10,758 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of AFC Gamma by 88.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 46,806 shares of the company's stock worth $579,000 after buying an additional 21,915 shares during the last quarter. Institutional investors own 26.53% of the company's stock.
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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