AFC Gamma (NASDAQ:AFCG) Raised to Neutral at Compass Point

Compass Point upgraded shares of AFC Gamma (NASDAQ:AFCG) from a sell rating to a neutral rating in a research report sent to investors on Friday, Marketbeat Ratings reports. They currently have $9.00 price target on the stock, down from their prior price target of $10.00.

Separately, JMP Securities restated a market perform rating on shares of AFC Gamma in a research report on Thursday, June 27th.

AFC Gamma Stock Up 0.3 %

AFCG opened at $9.88 on Friday. AFC Gamma has a 1-year low of $8.06 and a 1-year high of $13.66. The firm’s 50 day simple moving average is $10.51 and its two-hundred day simple moving average is $11.44. The company has a market capitalization of $204.19 million, a PE ratio of 19.00 and a beta of 1.03. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.19.

AFC Gamma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 8th were paid a $0.48 dividend. The ex-dividend date was Monday, July 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 19.43%. AFC Gamma’s dividend payout ratio (DPR) is presently 369.23%.

Insider Activity

In other news, Chairman Leonard M. Tannenbaum bought 31,335 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of $12.09 per share, with a total value of $378,840.15. Following the acquisition, the chairman now owns 3,775,973 shares of the company’s stock, valued at approximately $45,651,513.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AFCG. Tidal Investments LLC bought a new stake in shares of AFC Gamma during the first quarter valued at approximately $7,001,000. Wasatch Advisors LP lifted its stake in AFC Gamma by 11.6% in the 1st quarter. Wasatch Advisors LP now owns 640,617 shares of the company’s stock worth $7,931,000 after purchasing an additional 66,702 shares in the last quarter. Quest Partners LLC purchased a new stake in AFC Gamma in the 4th quarter worth $87,000. Jump Financial LLC boosted its holdings in shares of AFC Gamma by 20.3% during the 4th quarter. Jump Financial LLC now owns 21,900 shares of the company’s stock valued at $263,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in shares of AFC Gamma during the fourth quarter valued at about $65,000. 26.53% of the stock is 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.