AFC Gamma Receives Reiterated 'Market Perform' Rating from JMP Securities

AFC Gamma (NASDAQ:AFCG) had its "market perform" rating reaffirmed by analysts at JMP Securities in a research report released on Thursday. This reiteration indicates that analysts believe the stock will perform in line with the broader market.

In addition to JMP Securities, several other research firms have provided insights on AFC Gamma recently. Seaport Res Ptn upgraded the stock to a "strong-buy" rating in a report published on October 8. Furthermore, Alliance Global Partners initiated coverage of AFC Gamma on December 17, assigning a "buy" rating and setting a target price of $13.00 for the stock. Currently, among analysts, two have given the stock a hold rating, two have recommended buying it, and one has issued a strong buy rating. Data from MarketBeat.com shows that the stock holds an average rating of "Moderate Buy" with a consensus target price of $11.67.

AFC Gamma Stock Performance

On Thursday, shares of AFC Gamma declined by 2.1%, closing at $8.09. During the trading session, 14,792 shares of the stock exchanged hands, which is lower than its average trading volume of 168,045 shares. AFC Gamma's stock has experienced a 12-month low of $8.06, alongside a high of $13.28 during the same period. The company’s 50-day simple moving average stands at $9.02, while the two-hundred day moving average is $9.59. With a market capitalization of $177.51 million, AFC Gamma has a price-to-earnings ratio of 20.21 and a beta of 1.05. Its quick ratio and current ratio are both reported as 3.92, indicating strong liquidity, and its debt-to-equity ratio is 0.29.

Institutional Investors' Interest in AFC Gamma

Recently, several large investors have adjusted their positions in AFC Gamma. Tidal Investments LLC increased its stake in the company by 19.7% during the third quarter. It now owns 519,610 shares worth approximately $5.3 million after acquiring an additional 85,655 shares. Charles Schwab Investment Management also raised its stake by 4.6%, holding 50,403 shares valued at $515,000 after a purchase of 2,200 shares. Additionally, State Street Corp grew its holdings by 2.8%, owning 376,611 shares currently valued at about $3.97 million after purchasing 10,320 additional shares during the last quarter. Geode Capital Management expanded its position by 57.8%, which translates to 24,225 shares now worth $248,000. Finally, Barclays PLC increased its stakes dramatically by 257.0%, holding 22,567 shares valued at roughly $231,000. As a whole, institutional investors own 26.53% of AFC Gamma's stock.

About AFC Gamma

AFC Gamma, Inc. is involved in originating, structuring, underwriting, and investing in senior secured loans as well as other commercial real estate loans and debt securities. The company primarily focuses on established businesses in the cannabis industry, providing loans secured by real estate, equipment, licenses, and other assets, as permitted by law.

AFC, Gamma, Stock