AFC Gamma (NASDAQ:AFCG) Raised to Hold at Zacks Research

AFC Gamma (NASDAQ:AFCG) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a report on Monday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $4.50.

AFC Gamma Price Performance

Shares of AFCG stock traded up $0.08 during mid-day trading on Monday, hitting $2.88. 16,897 shares of the stock traded hands, compared to its average volume of 304,924. AFC Gamma has a twelve month low of $2.06 and a twelve month high of $5.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.45 and a current ratio of 3.45. The company’s 50-day simple moving average is $2.56 and its 200-day simple moving average is $2.80. The firm has a market cap of $67.67 million, a price-to-earnings ratio of -3.03 and a beta of 0.84.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.18). AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. The firm had revenue of $9.07 million during the quarter, compared to analyst estimates of $5.36 million. As a group, equities research analysts expect that AFC Gamma will post 0.49 earnings per share for the current year.

Insider Activity at AFC Gamma

In related news, Director Leonard M. Tannenbaum bought 44,914 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $116,327.26. Following the acquisition, the director directly owned 6,373,106 shares of the company’s stock, valued at $16,506,344.54. The trade was a 0.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders acquired 519,008 shares of company stock worth $1,331,588. 25.10% of the stock is currently owned by corporate insiders.

AFC Gamma Company Profile

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.