The stock of AFC Gamma Inc. (NASDAQ:AFCG) last traded at $14.21, down -8.03% from the previous session.
Data from the available sources indicates that AFC Gamma Inc. (NASDAQ:AFCG) is covered by 5 analysts. The consensus rating among analysts is ‘Buy’. AFCG stock price is now -10.25% away from the 50-day moving average and -13.91% away from the 200-day moving average. The market capitalization of the company currently stands at $288.04M.
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In total, 1 analysts have assigned it a hold rating, and 4 have given it a buy rating.
With the price target of $24, Jefferies recently initiated with Buy rating for AFC Gamma Inc. (NASDAQ: AFCG). On August 11, 2021, Cowen recently initiated its ‘Outperform’ rating on the stock quoting a target price of $27, while ‘Compass Point’ rates the stock as ‘Neutral’.
In other news, TANNENBAUM LEONARD M, Chief Executive Officer bought 5,000 shares of the company’s stock on Jun 17. The stock was bought for $79,242 at an average price of $15.85. Upon completion of the transaction, the Chief Executive Officer now directly owns 5,000 shares in the company, valued at $71050.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 16, Managing Director Kalikow Jonathan Gilbert bought 57,600 shares of the business’s stock. A total of $899,712 was incurred on buying the stock at an average price of $15.62. This leaves the insider owning 97,500 shares of the company worth $1.39 million. A total of 16.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AFCG stock. A new stake in AFC Gamma Inc. shares was purchased by MML INVESTORS SERVICES, LLC during the first quarter worth $672,000. AMERIPRISE FINANCIAL INC invested $311,000 in shares of AFCG during the first quarter. In the first quarter, INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC acquired a new stake in AFC Gamma Inc. valued at approximately $204,000. INVESCO LTD. acquired a new stake in AFCG for approximately $177,000. AE WEALTH MANAGEMENT LLC purchased a new stake in AFCG valued at around $161,000 in the second quarter. In total, there are 126 active investors with 37.90% ownership of the company’s stock.
With an opening price of $15.34 on Wednesday morning, AFC Gamma Inc. (NASDAQ: AFCG) set off the trading day. During the past 12 months, AFC Gamma Inc. has had a low of $14.90 and a high of $20.74. The fifty day moving average price for AFCG is $15.83 and a two-hundred day moving average price translates $16.51 for the stock.
The latest earnings results from AFC Gamma Inc. (NASDAQ: AFCG) was released for Sep, 2022. According to the REIT – Specialty Company, earnings per share came in at $0.59, missing analysts’ expectations of $0.65 by -0.06. This compares to $0.52 EPS in the same period last year. The net profit margin was 58.50% and return on equity was 12.40% for AFCG. The company reported revenue of $19.7 million for the quarter, compared to $12.96 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 51.98 percent. For the current quarter, analysts expect AFCG to generate $18.37M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/13/2023. Investors who held shares on 12/31/2022 were paid a $0.56 dividend. On an annualized basis, this represents a $2.24 dividend and a 15.76% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend. In terms of dividend payout ratio, AFCG is presently at 103.10%.
AFC Gamma Inc.(AFCG) Company Profile
AFC Gamma, Inc. originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. 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. AFC Gamma, Inc. has elected and qualified to be taxed as a real estate investment trust for the United States federal income tax purposes under the Internal Revenue Code of 1986. The company was incorporated in 2020 and is based in West Palm Beach, Florida.
