AFC Gamma Inc. (NASDAQ:AFCG) Receives $5.75 Consensus PT from Analysts

Shares of AFC Gamma Inc. (NASDAQ:AFCG) have been assigned a consensus rating of “Reduce” from the four analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $5.75.

A number of brokerages recently issued reports on AFCG. Alliance Global Partners downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 price target for the company. in a research note on Friday, August 15th. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday.

AFC Gamma Stock Down 4.7%

Shares of AFC Gamma stock opened at $3.44 on Friday. AFC Gamma has a 52-week low of $3.42 and a 52-week high of $10.50. The company has a 50 day moving average of $4.28 and a 200 day moving average of $4.77. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $77.71 million, a P/E ratio of -8.39 and a beta of 1.04.

AFC Gamma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 17.4%. AFC Gamma’s dividend payout ratio (DPR) is presently -146.34%.

Insider Buying and Selling

In related news, Director Leonard M. Tannenbaum acquired 79,665 shares of the business’s stock in a transaction on Friday, September 5th. The shares were bought at an average price of $4.56 per share, with a total value of $363,272.40. Following the completion of the acquisition, the director owned 4,962,171 shares in the company, valued at $22,627,499.76. This trade represents a 1.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel Neville acquired 12,388 shares of the business’s stock in a transaction on Monday, September 8th. The shares were bought at an average cost of $4.44 per share, for a total transaction of $55,002.72. Following the acquisition, the chief executive officer owned 209,649 shares of the company’s stock, valued at $930,841.56. This represents a 6.28% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,030,683 shares of company stock worth $4,590,274. 25.10% of the stock is owned by corporate insiders.

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.