AFC Gamma’s (AFCG) Market Perform Rating Reiterated at JMP Securities

JMP Securities reiterated their market perform rating on shares of AFC Gamma (NASDAQ:AFCG) in a research note 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 objective for the company. in a research note on Tuesday, May 28th.

AFC Gamma Price Performance

NASDAQ:AFCG opened at $12.20 on Thursday. The firm has a market capitalization of $252.17 million, a price-to-earnings ratio of 23.46 and a beta of 1.01. AFC Gamma has a 1 year low of $10.41 and a 1 year high of $14.60. The business has a 50 day simple moving average of $12.12 and a 200-day simple moving average of $12.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.86 and a quick ratio of 4.86.

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

AFC Gamma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 8th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 15.74%. The ex-dividend date of this dividend is Monday, July 8th. AFC Gamma’s dividend payout ratio is currently 369.24%.

Insider Buying and Selling

In other AFC Gamma news, Chairman Leonard M. Tannenbaum purchased 31,335 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of $12.09 per share, with a total value of $378,840.15. Following the purchase, the chairman now owns 3,775,973 shares of the company’s stock, valued at $45,651,513.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AFC Gamma

Institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP raised its position in AFC Gamma by 86.3% during the 4th quarter. Wasatch Advisors LP now owns 573,915 shares of the company’s stock valued at $6,904,000 after purchasing an additional 265,835 shares in the last quarter. Quest Partners LLC bought a new stake in AFC Gamma during the 4th quarter valued at $87,000. Jump Financial LLC raised its position in 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 in the last quarter. Ritholtz Wealth Management bought a new stake in AFC Gamma during the 4th quarter valued at $124,000. Finally, Spire Wealth Management bought a new stake in AFC Gamma during the 4th quarter valued at $65,000. 26.53% of the stock is owned by institutional investors.

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.