AFC Gamma (NASDAQ:AFCG) Cut to “Hold” at Jefferies Financial Group

AFC Gamma (NASDAQ:AFCG) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Friday,Briefing.com Automated Import reports. They currently have a $7.00 price objective on the stock, down from their previous price objective of $10.00. Jefferies Financial Group’s price target points to a potential upside of 3.55% from the stock’s current price.

A number of other research firms have also issued reports on AFCG. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Alliance Global Partners initiated coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target for the company. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.67.

AFC Gamma Trading Down 20.4 %

NASDAQ:AFCG opened at $6.76 on Friday. The business’s 50-day moving average is $8.38 and its two-hundred day moving average is $9.30. The firm has a market capitalization of $148.40 million, a PE ratio of 16.90 and a beta of 1.03. AFC Gamma has a 12 month low of $6.51 and a 12 month high of $13.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92.

Institutional Trading of AFC Gamma

Several hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in shares of AFC Gamma during the third quarter worth approximately $140,000. Charles Schwab Investment Management Inc. raised its position in shares of AFC Gamma by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after acquiring an additional 2,200 shares during the last quarter. Penserra Capital Management LLC increased its holdings in 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 purchasing an additional 14,570 shares during the last quarter. Centiva Capital LP acquired a new position in shares of AFC Gamma during the 3rd quarter worth about $193,000. Finally, State Street Corp boosted its stake in AFC Gamma by 2.8% during the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after acquiring an additional 10,320 shares during the last quarter. 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.