AFC Gamma, Inc. (NASDAQ:AFCG) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC increased its stake in AFC Gamma, Inc. (NASDAQ:AFCG) by 19.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,610 shares of the company’s stock after purchasing an additional 85,655 shares during the period. Tidal Investments LLC owned 2.37% of AFC Gamma worth $5,305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of AFCG. The Manufacturers Life Insurance Company grew its holdings 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 grew its stake in AFC Gamma by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock valued at $1,640,000 after purchasing an additional 1,900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of AFC Gamma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after purchasing an additional 2,200 shares during the period. McIlrath & Eck LLC purchased a new position in shares of AFC Gamma in the third quarter worth about $52,000. Finally, Geode Capital Management LLC lifted its holdings in shares of AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after purchasing an additional 8,877 shares during the period. Hedge funds and other institutional investors own 26.53% of the company’s stock.

AFC Gamma Stock Up 1.8 %

AFCG opened at $9.59 on Friday. The company has a fifty day moving average of $9.75 and a two-hundred day moving average of $10.28. The stock has a market capitalization of $210.50 million, a price-to-earnings ratio of 23.98 and a beta of 1.03. AFC Gamma, Inc. has a fifty-two week low of $8.06 and a fifty-two week high of $13.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92.

Analysts Set New Price Targets

AFCG has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price target on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Compass Point raised 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 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

AFC Gamma 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.