AFC Gamma's Market Perform Rating Restated by JMP Securities

Stock analysts at JMP Securities reaffirmed their "market perform" rating for shares of AFC Gamma (NASDAQ:AFCG) in a report published on Thursday. This restatement follows recent evaluations from various research companies regarding AFC Gamma's stock performance.

In addition to JMP Securities, Seaport Res Ptn upgraded AFC Gamma's shares to a "strong-buy" rating in a report dated October 8. Furthermore, Alliance Global Partners initiated coverage on AFC Gamma, assigning a "buy" rating and setting a price target of $13.00 as noted in their report on December 17. Currently, two investment analysts hold a "hold" rating on the stock, while two analysts have issued a buy rating, and one has designated it as a strong buy. According to statistics compiled from MarketBeat.com, the average rating for AFC Gamma's shares stands at "Moderate Buy" with a consensus price target of $11.67.

AFC Gamma Stock Performance

On Thursday, AFC Gamma's stock saw a decline of 2.1%, trading down by $0.17 to reach $8.09. The trading volume for the day was 14,792 shares, significantly lower than the average volume of 168,045 shares. Over the past 12 months, the stock has fluctuated between a low of $8.06 and a high of $13.28. Currently, the company's 50-day moving average is $9.02, while the two-hundred-day moving average stands at $9.59. AFC Gamma boasts a market capitalization of $177.51 million, with a price-to-earnings ratio of 20.21 and a beta of 1.05. The financial health ratios reveal a quick ratio of 3.92, a current ratio of 3.92, and a debt-to-equity ratio of 0.29.

Recent Institutional Trading Activity

There have been notable changes among large investors regarding their positions in AFC Gamma. Tidal Investments LLC increased its holdings by 19.7% in the third quarter, bringing their total to 519,610 shares valued at approximately $5,305,000 after acquiring an additional 85,655 shares. Additionally, Charles Schwab Investment Management Inc. expanded its investment in AFC Gamma by 4.6%, owning now 50,403 shares valued at $515,000. Another significant investor, State Street Corp, grew its holdings by 2.8%, totaling 376,611 shares valued at $3,968,000. Geode Capital Management LLC made a substantial increase in its stake by 57.8%, now holding 24,225 shares valued at $248,000. Lastly, Barclays PLC expanded its investment by 257%, with 22,567 shares valued at $231,000. Approximately 26.53% of AFC Gamma's stock is currently held by institutional investors.

AFC Gamma Company Overview

AFC Gamma, Inc is focused on originating, structuring, underwriting, and investing in senior secured loans, along with various commercial real estate loans and debt securities primarily for established companies in the cannabis sector. The company's primary business involves providing loans secured by real estate, equipment, licenses, and other assets of borrowers in compliance with relevant laws and regulations.

AFCG, Stocks, Investment