AFC Gamma (NASDAQ:AFCG) Given Market Perform Rating at JMP Securities

JMP Securities reiterated their market perform rating on shares of AFC Gamma (NASDAQ:AFCG) in a research note issued to investors on Thursday morning,Benzinga reports.

Several other analysts have also weighed in on AFCG. Alliance Global Partners started coverage on AFC Gamma in a report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective on the stock. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.67.

AFC Gamma Price Performance

NASDAQ AFCG opened at $8.12 on Thursday. The company has a market cap of $178.23 million, a P/E ratio of 20.30 and a beta of 1.05. The company has a fifty day simple moving average of $9.00 and a 200 day simple moving average of $9.58. AFC Gamma has a 1 year low of $7.94 and a 1 year high of $13.28. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 16.26%. The ex-dividend date of this dividend was Tuesday, December 31st. AFC Gamma’s dividend payout ratio (DPR) is presently 330.00%.

Hedge Funds Weigh In On AFC Gamma

Several hedge funds have recently modified their holdings of AFCG. McIlrath & Eck LLC acquired a new position in AFC Gamma during the third quarter worth approximately $52,000. GSA Capital Partners LLP acquired a new position in AFC Gamma in the 3rd quarter valued at $140,000. Centiva Capital LP acquired a new position in AFC Gamma in the third quarter valued at about $193,000. Barclays PLC raised its position in shares of AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after buying an additional 16,245 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after purchasing an additional 8,877 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

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.