Seaport Res Ptn Comments on AFC Gamma, Inc.’s Q3 2024 Earnings (NASDAQ:AFCG)

AFC Gamma, Inc. (NASDAQ:AFCG) – Stock analysts at Seaport Res Ptn issued their Q3 2024 earnings estimates for shares of AFC Gamma in a report released on Tuesday, October 8th. Seaport Res Ptn analyst S. Randhawa forecasts that the company will post earnings of $0.33 per share for the quarter. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for AFC Gamma’s current full-year earnings is $2.00 per share. Seaport Res Ptn also issued estimates for AFC Gamma’s FY2024 earnings at $1.71 EPS, Q3 2025 earnings at $0.43 EPS and Q4 2025 earnings at $0.44 EPS.

AFCG has been the topic of several other research reports. Jefferies Financial Group lowered their price objective on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. JMP Securities restated a “market perform” rating on shares of AFC Gamma in a report on Thursday, June 27th. Finally, Compass Point upgraded shares of AFC Gamma from a “sell” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $9.00 in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

AFC Gamma Trading Down 2.6 %

NASDAQ:AFCG opened at $9.62 on Friday. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.35. The stock has a market capitalization of $198.82 million, a price-to-earnings ratio of 18.50 and a beta of 1.05. The firm has a fifty day simple moving average of $10.07 and a two-hundred day simple moving average of $11.03. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.11.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. The business had revenue of $19.96 million during the quarter, compared to the consensus estimate of $16.48 million. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%.

AFC Gamma Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 13.72%. The ex-dividend date is Monday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is presently 253.85%.

Institutional Trading of AFC Gamma

Institutional investors have recently bought and sold shares of the stock. Ritholtz Wealth Management lifted its position in shares of AFC Gamma by 91.1% during the third 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 during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of AFC Gamma by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock valued at $284,000 after buying an additional 1,071 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of AFC Gamma by 1.4% during the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock valued at $1,640,000 after buying an additional 1,900 shares during the last quarter. AdvisorShares Investments LLC raised its position in shares of AFC Gamma by 14.7% in the 2nd quarter. AdvisorShares Investments LLC now owns 124,606 shares of the company’s stock valued at $1,505,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Spire Wealth Management raised its position in shares of AFC Gamma by 141.5% in the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock valued at $362,000 after purchasing an additional 17,400 shares during the last quarter. 26.53% of the stock is currently 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.