Jefferies Financial Group Lowers AFC Gamma (NASDAQ:AFCG) Price Target to $13.00

AFC Gamma (NASDAQ:AFCG) had its target price lowered by investment analysts at Jefferies Financial Group from $16.00 to $13.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 25.24% from the stock’s current price.

AFCG has been the topic of a number of other reports. Compass Point raised AFC Gamma from a “sell” rating to a “neutral” rating and cut their price target for the company from $10.00 to $9.00 in a research note on Friday, August 16th. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research note on Thursday, June 27th.

AFC Gamma Price Performance

NASDAQ:AFCG traded down $0.08 during trading hours on Tuesday, hitting $10.38. The company’s stock had a trading volume of 133,003 shares, compared to its average volume of 136,749. The stock has a fifty day simple moving average of $10.05 and a 200-day simple moving average of $11.34. The company has a market capitalization of $214.52 million, a P/E ratio of 19.96 and a beta of 1.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.77 and a quick ratio of 4.77. AFC Gamma has a twelve month low of $8.06 and a twelve month high of $13.38.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. The business had revenue of $19.96 million for the quarter, compared to analyst estimates of $16.48 million. AFC Gamma had a return on equity of 12.41% and a net margin of 21.97%. On average, analysts anticipate that AFC Gamma will post 2 EPS for the current fiscal year.

Insider Transactions at AFC Gamma

In related news, Chairman Leonard M. Tannenbaum acquired 31,335 shares of the stock in a transaction dated Wednesday, June 5th. The stock was bought at an average cost of $12.09 per share, for a total transaction of $378,840.15. Following the completion of the transaction, the chairman now directly owns 3,775,973 shares of the company’s stock, valued at $45,651,513.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 26.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AFC Gamma

A number of hedge funds have recently added to or reduced their stakes in AFCG. Tidal Investments LLC bought a new stake in AFC Gamma in the first quarter worth approximately $7,001,000. Wasatch Advisors LP grew its stake in 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 acquiring an additional 265,835 shares during the period. Los Angeles Capital Management LLC grew its stake in 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 acquiring an additional 44,350 shares during the period. Anson Funds Management LP acquired a new stake in AFC Gamma in the first quarter valued at approximately $319,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in 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 acquiring an additional 24,506 shares during the period. 26.53% of the stock is currently owned by institutional investors.

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.