AFC Gamma (NASDAQ:AFCG) Earns Buy Rating from Analysts at Alliance Global Partners

Research analysts at Alliance Global Partners initiated coverage on shares of AFC Gamma (NASDAQ:AFCG) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $13.00 price target on the stock. Alliance Global Partners’ target price indicates a potential upside of 39.78% from the company’s previous close.

A number of other analysts also recently issued reports on AFCG. Jefferies Financial Group dropped their price objective on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.67.

AFC Gamma Stock Down 3.0 %

AFCG stock opened at $9.30 on Tuesday. The company’s 50 day moving average is $9.73 and its 200 day moving average is $10.24. The stock has a market cap of $204.16 million, a price-to-earnings ratio of 23.25 and a beta of 1.03. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma has a 1-year low of $8.06 and a 1-year high of $13.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC boosted its holdings in shares of AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after purchasing an additional 85,655 shares during the period. Renaissance Technologies LLC lifted its stake in AFC Gamma by 1.4% in the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after acquiring an additional 1,900 shares during the period. Spire Wealth Management boosted its holdings in AFC Gamma by 141.5% in the second quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock valued at $362,000 after acquiring an additional 17,400 shares in the last quarter. Ritholtz Wealth Management increased its position in AFC Gamma by 51.1% during the 2nd quarter. Ritholtz Wealth Management now owns 31,822 shares of the company’s stock valued at $388,000 after purchasing an additional 10,758 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in AFC Gamma by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock valued at $284,000 after purchasing an additional 1,071 shares during the period. 26.53% of the stock is owned by institutional investors.

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.