AFC Gamma (NASDAQ:AFCG) Receives Market Perform Rating from JMP Securities

JMP Securities restated their market perform rating on shares of AFC Gamma (NASDAQ:AFCG) in a report released on Thursday, Benzinga reports.

Separately, Compass Point lowered AFC Gamma from a neutral rating to a sell rating and set a $10.00 price target for the company. in a research report on Tuesday, May 28th.

AFC Gamma Price Performance

NASDAQ:AFCG opened at $12.20 on Thursday. AFC Gamma has a 12 month low of $10.41 and a 12 month high of $14.60. The stock has a 50 day moving average of $12.12 and a two-hundred day moving average of $12.01. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.19. The firm has a market cap of $252.17 million, a P/E ratio of 23.46 and a beta of 1.01.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $16.36 million for the quarter, compared to analysts’ expectations of $18.50 million. AFC Gamma had a return on equity of 11.77% and a net margin of 16.27%. On average, analysts expect that AFC Gamma will post 1.92 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 8th will be given a $0.48 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 15.74%. AFC Gamma’s dividend payout ratio (DPR) is presently 369.24%.

Insider Activity

In related news, Chairman Leonard M. Tannenbaum purchased 31,335 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost of $12.09 per share, for a total transaction of $378,840.15. Following the completion of the transaction, the chairman now directly owns 3,775,973 shares of the company’s stock, valued at $45,651,513.57. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Spire Wealth Management purchased a new position in AFC Gamma in the fourth quarter worth approximately $65,000. Tower Research Capital LLC TRC grew its position in AFC Gamma by 45.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,030 shares of the company’s stock worth $85,000 after acquiring an additional 2,212 shares during the period. Quest Partners LLC purchased a new position in AFC Gamma in the fourth quarter worth approximately $87,000. SG Americas Securities LLC purchased a new position in AFC Gamma in the fourth quarter worth approximately $108,000. Finally, Ritholtz Wealth Management purchased a new position in AFC Gamma in the fourth quarter worth approximately $124,000. 26.53% of the stock is currently owned by hedge funds and other 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.