AdvisorShares Investments LLC Buys 16,000 Shares of AFC Gamma, Inc. (NASDAQ:AFCG)

AdvisorShares Investments LLC raised its stake in AFC Gamma, Inc. (NASDAQ:AFCG) by 14.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,606 shares of the company’s stock after purchasing an additional 16,000 shares during the period. AdvisorShares Investments LLC owned 0.60% of AFC Gamma worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Spire Wealth Management bought a new position in shares of AFC Gamma during the 4th quarter worth approximately $65,000. Quest Partners LLC acquired a new position in shares of AFC Gamma during the fourth quarter worth $87,000. Hartline Investment Corp acquired a new position in shares of AFC Gamma during the first quarter worth $133,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of AFC Gamma by 40.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 18,300 shares of the company’s stock valued at $220,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Jump Financial LLC boosted its position in shares of AFC Gamma by 20.3% in the 4th quarter. Jump Financial LLC now owns 21,900 shares of the company’s stock worth $263,000 after purchasing an additional 3,700 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors.

AFC Gamma Stock Performance

Shares of AFCG opened at $10.08 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.77 and a current ratio of 4.77. The stock has a 50-day moving average of $9.85 and a two-hundred day moving average of $11.29. The stock has a market cap of $208.32 million, a P/E ratio of 19.38 and a beta of 1.05. AFC Gamma, Inc. has a one year low of $8.06 and a one year high of $13.35.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. The firm had revenue of $19.96 million during the quarter, compared to analysts’ expectations of $16.48 million. AFC Gamma had a return on equity of 12.41% and a net margin of 21.97%. As a group, research analysts predict that AFC Gamma, Inc. will post 2 EPS for the current year.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 8th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 19.05%. The ex-dividend date was Monday, July 8th. AFC Gamma’s dividend payout ratio (DPR) is currently 369.23%.

Analyst Upgrades and Downgrades

AFCG has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their price target on AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research report on Thursday, June 27th. Finally, Compass Point raised shares of AFC Gamma from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $9.00 in a research report on Friday, August 16th.

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.