JMP Securities Reiterates “Market Perform” Rating for AFC Gamma (NASDAQ:AFCG)

AFC Gamma (NASDAQ:AFCG)‘s stock had its “market perform” rating restated by research analysts at JMP Securities in a research report issued to clients and investors 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 report on Tuesday, May 28th.

AFC Gamma Stock Up 1.0 %

Shares of NASDAQ:AFCG traded up $0.12 during trading on Thursday, hitting $11.74. The company’s stock had a trading volume of 52,003 shares, compared to its average volume of 117,091. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.86 and a current ratio of 4.86. The company has a market capitalization of $242.67 million, a PE ratio of 22.58 and a beta of 1.01. AFC Gamma has a fifty-two week low of $10.41 and a fifty-two week high of $14.60. The stock’s 50-day moving average price is $12.10 and its two-hundred day moving average price is $12.01.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm 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%. As a group, sell-side analysts expect that AFC Gamma will post 1.92 EPS for the current year.

Insider Buying and Selling

In other AFC Gamma news, Chairman Leonard M. Tannenbaum acquired 31,335 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average cost of $12.09 per share, with a total value of $378,840.15. Following the acquisition, the chairman now directly owns 3,775,973 shares of the company’s stock, valued at approximately $45,651,513.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On AFC Gamma

A number of institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of AFC Gamma during the 1st quarter valued at $7,001,000. Wasatch Advisors LP lifted its holdings in shares of 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 purchasing an additional 265,835 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of AFC Gamma by 106.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 86,157 shares of the company’s stock valued at $1,036,000 after purchasing an additional 44,350 shares in the last quarter. Anson Funds Management LP purchased a new stake in shares of AFC Gamma in the first quarter valued at $319,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AFC Gamma by 9.6% in the first 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 in the last quarter. 26.53% of the stock is currently owned by institutional investors and hedge funds.

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.