Jefferies Financial Group Trims AFC Gamma (NASDAQ:AFCG) Target Price to $13.00

AFC Gamma (NASDAQ:AFCG) had its target price lowered by Jefferies Financial Group from $16.00 to $13.00 in a research report report published on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other research analysts also recently commented on AFCG. JMP Securities restated a market perform rating on shares of AFC Gamma in a research note on Thursday, June 27th. Compass Point raised shares of AFC Gamma from a sell rating to a neutral rating and reduced their price objective for the company from $10.00 to $9.00 in a research note on Friday, August 16th.

AFC Gamma Stock Performance

NASDAQ AFCG opened at $10.34 on Tuesday. The firm has a market cap of $213.70 million, a P/E ratio of 19.88 and a beta of 1.05. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $9.93 and its 200-day moving average is $11.31. AFC Gamma has a 12-month low of $8.06 and a 12-month high of $13.35.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. The business had revenue of $19.96 million for the quarter, compared to analysts’ expectations of $16.48 million. Sell-side analysts predict that AFC Gamma will post 2 earnings per share for the current year.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 8th were given a dividend of $0.48 per share. The ex-dividend date was Monday, July 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 18.57%. AFC Gamma’s dividend payout ratio (DPR) is presently 369.23%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AFCG. Tidal Investments LLC purchased a new position in AFC Gamma in the 1st quarter worth approximately $7,001,000. Wasatch Advisors LP increased its stake in AFC Gamma by 86.3% in the fourth quarter. Wasatch Advisors LP now owns 573,915 shares of the company’s stock valued at $6,904,000 after acquiring an additional 265,835 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in AFC Gamma by 106.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 86,157 shares of the company’s stock worth $1,036,000 after purchasing an additional 44,350 shares during the last quarter. Anson Funds Management LP purchased a new position in shares of AFC Gamma in the 1st quarter worth about $319,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of AFC Gamma by 9.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company’s stock valued at $3,519,000 after purchasing an additional 24,506 shares during the last quarter. 26.53% of the stock is currently owned by institutional investors.

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.