AFC Gamma (NASDAQ:AFCG) Given “Market Perform” Rating at JMP Securities

AFC Gamma (NASDAQ:AFCG)‘s stock had its “market perform” rating reiterated by research analysts at JMP Securities in a research note issued on Thursday,Benzinga reports.

A number of other research firms have also weighed in on AFCG. Alliance Global Partners started coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective on the stock. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.67.

AFC Gamma Stock Down 2.1 %

NASDAQ:AFCG traded down $0.17 during midday trading on Thursday, reaching $8.09. 14,792 shares of the stock traded hands, compared to its average volume of 168,045. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. AFC Gamma has a 12-month low of $8.06 and a 12-month high of $13.28. The stock has a market capitalization of $177.51 million, a PE ratio of 20.21 and a beta of 1.05. The business has a 50-day moving average of $9.02 and a two-hundred day moving average of $9.59.

Hedge Funds Weigh In On AFC Gamma

Several hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC lifted its stake in shares of AFC Gamma by 19.7% in the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after buying an additional 85,655 shares in the last quarter. Barclays PLC increased its position in AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares during the last quarter. McIlrath & Eck LLC acquired a new stake in AFC Gamma during the third quarter worth about $52,000. Geode Capital Management LLC increased its position in 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 last quarter. Finally, State Street Corp increased its position in AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares during the last quarter. 26.53% of the stock is owned by hedge funds and other 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.