AFC Gamma's Market Perform Rating Confirmed by JMP Securities

A recent research report from JMP Securities has reaffirmed a "market perform" rating for shares of AFC Gamma (NASDAQ:AFCG). This update was shared on Thursday, signaling a steady outlook for the company among analysts.

In addition to JMP Securities, several other research firms have recently assessed AFC Gamma's stock performance. Notably, Seaport Res Ptn upgraded their rating to a "strong-buy" on Tuesday, October 8th. Meanwhile, Alliance Global Partners began their coverage of AFC Gamma on December 17th with a "buy" rating and a price target of $13.00 for the stock.

Overall, investment analysts have expressed a range of ratings for AFC Gamma. Currently, two analysts have given the stock a hold rating, two have issued a buy rating, and one has categorized it as a strong buy. According to data collected from MarketBeat.com, AFC Gamma’s stock maintains an average rating of "Moderate Buy" along with a consensus price target of $11.67.

AFC Gamma Stock Performance

On Thursday, the stock of AFC Gamma experienced a decline of 2.1%, bringing its price down by $0.17 to $8.09. A total of 14,792 shares changed hands during this trading session, which is relatively low compared to the average trading volume of 168,045 shares. Over the past year, AFC Gamma's stock has seen a low of $8.06 and a high of $13.28. Currently, the company has a market capitalization of $177.51 million, a price-to-earnings ratio of 20.21, and a beta of 1.05. In terms of financial ratios, they have a quick ratio of 3.92, a current ratio of 3.92, and a debt-to-equity ratio of 0.29.

Recent Institutional Investments

Throughout the recent quarter, several large investors have adjusted their holdings in AFC Gamma. For instance, Tidal Investments LLC increased their stake in AFC Gamma by 19.7% during the third quarter, now holding 519,610 shares valued at approximately $5.3 million, after acquiring 85,655 additional shares. Similarly, Charles Schwab Investment Management Inc. raised their holdings by 4.6%, now owning 50,403 shares valued at about $515,000 after adding 2,200 shares.

Moreover, State Street Corp also increased its investments by 2.8%, with a total of 376,611 shares valued at $3.97 million after purchasing an extra 10,320 shares. Geode Capital Management LLC made the most significant increase by 57.8%, reaching 24,225 shares valued at $248,000. Additionally, Barclays PLC boosted its holdings by 257.0%, now possessing 22,567 shares worth $231,000. Notably, institutional investors currently hold approximately 26.53% of AFC Gamma's stock.

About AFC Gamma

AFC Gamma, Inc. specializes in the origination, structuring, underwriting, and investment of senior secured loans and various commercial real estate loans, mainly for established firms in the cannabis industry. Their primary focus is on offering loans backed by real estate, equipment, licenses, and other assets of borrowers, as permitted by relevant laws and regulations.

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