AFC Gamma (NASDAQ:AFCG) Lifted to “Strong-Buy” at Seaport Res Ptn

Seaport Res Ptn upgraded shares of AFC Gamma (NASDAQ:AFCG) to a strong-buy rating in a research report released on Tuesday, Zacks.com reports.

Several other research firms have also recently weighed in on AFCG. Compass Point raised shares of AFC Gamma from a sell rating to a neutral rating and decreased their target price for the company from $10.00 to $9.00 in a research note on Friday, August 16th. JMP Securities reissued a market perform rating on shares of AFC Gamma in a research report on Thursday, June 27th. Finally, Jefferies Financial Group dropped their target price on shares of AFC Gamma from $16.00 to $13.00 and set a buy rating on the stock in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AFC Gamma presently has a consensus rating of Moderate Buy and a consensus price target of $11.00.

AFC Gamma Trading Down 2.6 %

NASDAQ:AFCG opened at $9.62 on Tuesday. The company has a market cap of $198.82 million, a P/E ratio of 18.50 and a beta of 1.05. AFC Gamma has a twelve month low of $8.06 and a twelve month high of $13.35. The business has a 50 day moving average price of $10.07 and a two-hundred day moving average price of $11.03. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.11.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. The business had revenue of $19.96 million during the quarter, compared to analysts’ expectations of $16.48 million. As a group, analysts expect that AFC Gamma will post 2 EPS for the current fiscal year.

AFC Gamma Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 13.72%. AFC Gamma’s dividend payout ratio (DPR) is 253.85%.

Hedge Funds Weigh In On AFC Gamma

Several large investors have recently modified their holdings of AFCG. Wasatch Advisors LP boosted its holdings in shares of AFC Gamma by 11.6% during the 1st quarter. Wasatch Advisors LP now owns 640,617 shares of the company’s stock worth $7,931,000 after buying an additional 66,702 shares during the period. Tidal Investments LLC acquired a new position in shares of AFC Gamma in the first quarter valued at approximately $7,001,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of AFC Gamma by 9.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company’s stock valued at $3,519,000 after purchasing an additional 24,506 shares during the last quarter. Renaissance Technologies LLC increased its stake 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 during the period. Finally, AdvisorShares Investments LLC lifted its holdings in AFC Gamma by 14.7% during the 2nd quarter. AdvisorShares Investments LLC now owns 124,606 shares of the company’s stock worth $1,505,000 after purchasing an additional 16,000 shares during the last quarter. 26.53% of the stock is owned by institutional investors.

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.