Brokerages Set AFC Gamma, Inc. (NASDAQ:AFCG) Price Target at $26.80

Shares of AFC Gamma, Inc. (NASDAQ:AFCG – Get Rating) have been assigned a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $26.25.

Separately, Zacks Investment Research cut shares of AFC Gamma from a “hold” rating to a “sell” rating in a research report on Thursday.

In other AFC Gamma news, CFO Brett Kaufman bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was purchased at an average price of $16.70 per share, for a total transaction of $50,100.00. Following the completion of the purchase, the chief financial officer now directly owns 6,000 shares in the company, valued at $100,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Leonard M. Tannenbaum purchased 21,183 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was bought at an average price of $15.80 per share, for a total transaction of $334,691.40. Following the completion of the purchase, the chief executive officer now directly owns 3,363,683 shares of the company’s stock, valued at $53,146,191.40. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 25,183 shares of company stock worth $401,671. 28.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of AFCG. Strs Ohio raised its stake in AFC Gamma by 70.6% during the 4th quarter. Strs Ohio now owns 2,900 shares of the company’s stock worth $66,000 after acquiring an additional 1,200 shares in the last quarter. HighTower Advisors LLC increased its position in shares of AFC Gamma by 10.9% during the third quarter. HighTower Advisors LLC now owns 258,305 shares of the company’s stock worth $5,576,000 after purchasing an additional 25,354 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of AFC Gamma by 291,391.9% in the 3rd quarter. Citigroup Inc. now owns 1,002,732 shares of the company’s stock valued at $21,639,000 after purchasing an additional 1,002,388 shares during the last quarter. Wasatch Advisors Inc. boosted its position in shares of AFC Gamma by 17.5% in the 3rd quarter. Wasatch Advisors Inc. now owns 487,526 shares of the company’s stock valued at $10,521,000 after purchasing an additional 72,526 shares during the period. Finally, AdvisorShares Investments LLC purchased a new position in AFC Gamma during the 4th quarter worth approximately $5,183,000. 37.72% of the stock is currently owned by hedge funds and other institutional investors.

AFCG opened at $17.83 on Thursday. The stock’s 50-day moving average price is $18.11 and its 200 day moving average price is $20.13. AFC Gamma has a 12-month low of $14.90 and a 12-month high of $25.50. The firm has a market cap of $351.96 million, a price-to-earnings ratio of 10.13 and a beta of 1.28.

AFC Gamma (NASDAQ:AFCG – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. AFC Gamma had a net margin of 57.13% and a return on equity of 11.59%. During the same quarter last year, the firm earned $0.45 EPS. On average, research analysts anticipate that AFC Gamma will post 2.61 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This is an increase from AFC Gamma’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a dividend yield of 12.34%. AFC Gamma’s payout ratio is currently 125.00%.

AFC Gamma Company Profile (Get Rating)

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. 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.

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