AFC Gamma (NASDAQ:AFCG) Now Covered by Analysts at Alliance Global Partners

Alliance Global Partners started coverage on shares of AFC Gamma (NASDAQ:AFCG) in a research note released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $13.00 price target on the stock.

Several other equities analysts also recently commented on the company. 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 research note on Tuesday, September 3rd. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AFC Gamma has an average rating of “Moderate Buy” and an average target price of $11.67.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $8.72 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The firm has a market cap of $191.43 million, a price-to-earnings ratio of 21.80 and a beta of 1.03. AFC Gamma has a 52 week low of $8.06 and a 52 week high of $13.35. The firm’s 50-day simple moving average is $9.69 and its two-hundred day simple moving average is $10.20.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.33 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis and a yield of 15.14%. AFC Gamma’s dividend payout ratio is 330.00%.

Institutional Investors Weigh In On AFC Gamma

Several institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its stake in shares of AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after purchasing an additional 85,655 shares during the period. State Street Corp grew its holdings in AFC Gamma by 2.8% during the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after buying an additional 10,320 shares in the last quarter. Renaissance Technologies LLC increased 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 valued at $1,640,000 after buying an additional 1,900 shares during the period. AdvisorShares Investments LLC lifted its holdings 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 worth $1,505,000 after buying an additional 16,000 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its position 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 acquiring an additional 14,570 shares during the period. Hedge funds and other institutional investors own 26.53% of the company’s stock.

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.