JMP Securities Reiterates 'Market Perform' Rating for AFC Gamma

The stock of AFC Gamma, Inc. (NASDAQ:AFCG) had its "market perform" rating confirmed by JMP Securities in a research report released on Thursday. This decision comes amidst ongoing assessments of the company's performance within a dynamic market landscape.

In addition to JMP Securities, several other research firms have provided insights on AFC Gamma's stock. For instance, Seaport Res Ptn upgraded the shares to a "strong-buy" rating on October 8th. Similarly, Alliance Global Partners initiated coverage for AFC Gamma on December 17th, giving it a "buy" rating along with a price target of $13.00. Currently, among analysts, two have assigned a hold rating, two have issued buy ratings, and one has rated the stock as a strong buy. According to MarketBeat.com, the overall consensus holds at a "Moderate Buy" with an average price target of $11.67.

AFC Gamma Stock Performance

On Thursday, AFC Gamma's shares dropped by 2.1%, closing at $8.09. Trading volume reached 14,792 shares, which is significantly lower than its average daily volume of 168,045. The stock's 12-month performance has shown a low of $8.06 and a high of $13.28. Currently, the 50-day simple moving average is at $9.02, while the 200-day simple moving average stands at $9.59. With a market capitalization of $177.51 million, the company has a price-to-earnings ratio of 20.21 and a beta of 1.05. Financial metrics reveal a quick ratio of 3.92, a current ratio of 3.92, and a relatively low debt-to-equity ratio of 0.29.

Institutional Investment Activity

Institutional investors have recently adjusted their positions concerning AFC Gamma. Notably, Tidal Investments LLC increased their holdings by 19.7% in the third quarter, now owning 519,610 shares valued at $5,305,000 after acquiring an additional 85,655 shares. Meanwhile, Charles Schwab Investment Management Inc. raised its holdings by 4.6%, now owning 50,403 shares valued at $515,000. State Street Corp also augmented its investment by 2.8%, holding 376,611 shares valued at $3,968,000. Additionally, Geode Capital Management LLC expanded its stake by an impressive 57.8%, owning 24,225 shares worth $248,000. Lastly, Barclays PLC saw a substantial increase, boosting their holdings by 257.0%, now having 22,567 shares worth $231,000. Currently, 26.53% of AFC Gamma's stock is held by institutional investors.

Company Overview

AFC Gamma, Inc. specializes in originating, structuring, underwriting, and investing in senior secured loans, along with various commercial real estate loans and debt securities, specifically for established firms in the cannabis industry. The company typically arranges loans that are senior secured by real estate, equipment, licenses, and/or other permissible assets governed by related laws and regulations.

AFCG, Securities, Rating