Fintel reports that on October 9, 2024, Seaport Global initiated coverage of AFC Gamma (NasdaqGM:AFCG) with a Buy recommendation.
Analyst Price Forecast Suggests 23.89% Upside
As of September 25, 2024, the average one-year price target for AFC Gamma is $12.24/share. The forecasts range from a low of $9.09 to a high of $14.70. The average price target represents an increase of 23.89% from its latest reported closing price of $9.88 / share.
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The projected annual revenue for AFC Gamma is 99MM, an increase of 88.74%. The projected annual non-GAAP EPS is 2.70.
What is the Fund Sentiment?
There are 173 funds or institutions reporting positions in AFC Gamma. This is an decrease of 11 owner(s) or 5.98% in the last quarter. Average portfolio weight of all funds dedicated to AFCG is 0.09%, an increase of 45.22%. Total shares owned by institutions decreased in the last three months by 13.72% to 6,801K shares. 
The put/call ratio of AFCG is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
Wasatch Advisors holds 641K shares representing 3.10% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 483K shares representing 2.33% ownership of the company. No change in the last quarter.
Toroso Investments holds 434K shares representing 2.10% ownership of the company. In its prior filing, the firm reported owning 566K shares , representing a decrease of 30.32%. The firm decreased its portfolio allocation in AFCG by 38.43% over the last quarter.
Amplify ETF Trust - Amplify Alternative Harvest ETF holds 401K shares representing 1.94% ownership of the company. In its prior filing, the firm reported owning 535K shares , representing a decrease of 33.16%. The firm decreased its portfolio allocation in AFCG by 8.19% over the last quarter.
IWM - iShares Russell 2000 ETF holds 392K shares representing 1.90% ownership of the company. In its prior filing, the firm reported owning 412K shares , representing a decrease of 5.19%. The firm increased its portfolio allocation in AFCG by 2.22% over the last quarter.
AFC Gamma Background Information
(This description is provided by the company.)
AFC Gamma, Inc. is an institutional lender to leading cannabis companies with strong operations and cash-flow prospects, real-estate-security and other collateral, and locations in states with favorable supply/demand fundamentals and legislative environments. AFC’s platform provides innovative and customized financing solutions through first-lien loans, mortgage loans, construction loans and bridge financings. The senior-management team of the company has a combined approximately 100 years of experience in investment management and disciplined credit investing across a range of economic cycles.
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This story originally appeared on Fintel.
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