JMP Securities Reaffirms “Market Perform” Rating for AFC Gamma (NASDAQ:AFCG)

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

Several other equities analysts have also recently weighed in on the stock. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Alliance Global Partners assumed coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AFC Gamma presently has an average rating of “Moderate Buy” and an average price target of $11.67.

AFC Gamma Price Performance

AFC Gamma stock opened at $8.12 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The stock has a market capitalization of $178.23 million, a price-to-earnings ratio of 20.30 and a beta of 1.05. The stock’s 50 day moving average price is $9.00 and its two-hundred day moving average price is $9.58. AFC Gamma has a 52-week low of $7.94 and a 52-week high of $13.28.

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 annualized dividend and a yield of 16.26%. AFC Gamma’s payout ratio is presently 330.00%.

Institutional Investors Weigh In On AFC Gamma

A number of large investors have recently added to or reduced their stakes in AFCG. Tidal Investments LLC grew its stake in shares of AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after buying an additional 85,655 shares during the last quarter. State Street Corp raised its stake in AFC Gamma by 2.8% in the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after buying an additional 10,320 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of AFC Gamma by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after acquiring an additional 1,900 shares in the last quarter. Penserra Capital Management LLC lifted its position in AFC Gamma by 22.9% during the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after buying an additional 14,570 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in shares of AFC Gamma by 91.1% during the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after buying an additional 28,998 shares in the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

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.