Zacks Research Upgrades AFC Gamma (NASDAQ:AFCG) to Hold

AFC Gamma (NASDAQ:AFCG) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other research firms have also weighed in on AFCG. Alliance Global Partners lowered AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 target price on the stock. in a report on Friday, August 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $5.75.

AFC Gamma Price Performance

NASDAQ:AFCG traded up $0.03 during midday trading on Thursday, hitting $3.13. 99,873 shares of the stock were exchanged, compared to its average volume of 148,106. AFC Gamma has a one year low of $3.04 and a one year high of $9.93. The company has a current ratio of 3.04, a quick ratio of 3.13 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $3.73 and a two-hundred day moving average price of $4.42. The company has a market capitalization of $70.71 million, a price-to-earnings ratio of -3.01 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). AFC Gamma had a negative net margin of 70.46% and a positive return on equity of 8.45%. The firm had revenue of ($3.18) million for the quarter, compared to analysts’ expectations of $6.55 million. Sell-side analysts predict that AFC Gamma will post 1.64 EPS for the current year.

Insider Activity

In related news, CEO Daniel Neville acquired 12,388 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average cost of $4.44 per share, for a total transaction of $55,002.72. Following the completion of the transaction, the chief executive officer owned 209,649 shares in the company, valued at approximately $930,841.56. This trade represents a 6.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leonard M. Tannenbaum bought 79,665 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average price of $4.56 per share, with a total value of $363,272.40. Following the transaction, the director directly owned 4,962,171 shares in the company, valued at $22,627,499.76. The trade was a 1.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 1,030,683 shares of company stock valued at $4,590,274. Company insiders own 25.10% of the company’s stock.

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.