15,238 Shares in AFC Gamma, Inc. (NASDAQ:AFCG) Bought by Summit Global Investments

Posted by on Oct 2nd, 2023

Summit Global Investments acquired a new position in AFC Gamma, Inc. (NASDAQ:AFCG – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,238 shares of the company’s stock, valued at approximately $190,000. Summit Global Investments owned 0.07% of AFC Gamma at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Money Concepts Capital Corp purchased a new position in shares of AFC Gamma in the fourth quarter valued at about $31,000. Coppell Advisory Solutions Corp. purchased a new position in shares of AFC Gamma in the fourth quarter valued at about $38,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of AFC Gamma in the first quarter worth about $53,000. Barclays PLC lifted its position in shares of AFC Gamma by 347.1% in the fourth quarter. Barclays PLC now owns 4,780 shares of the company’s stock worth $75,000 after buying an additional 3,711 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of AFC Gamma by 4,483.8% in the third quarter. UBS Group AG now owns 5,088 shares of the company’s stock worth $78,000 after buying an additional 4,977 shares in the last quarter. Institutional investors own 34.34% of the company’s stock.

AFC Gamma Trading Up 0.9 %

NASDAQ:AFCG opened at $11.74 on Monday. The company has a market capitalization of $240.20 million, a P/E ratio of 6.56 and a beta of 1.00. AFC Gamma, Inc. has a 12 month low of $9.91 and a 12 month high of $17.72. The business’s 50-day moving average is $13.03 and its 200 day moving average is $12.41.

AFC Gamma (NASDAQ:AFCG – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.05). AFC Gamma had a net margin of 47.27% and a return on equity of 15.51%. The company had revenue of $17.68 million during the quarter, compared to the consensus estimate of $20.60 million. On average, research analysts forecast that AFC Gamma, Inc. will post 2.02 earnings per share for the current year.

AFC Gamma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Saturday, September 30th will be issued a $0.48 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.92 annualized dividend and a dividend yield of 16.35%. AFC Gamma’s payout ratio is 107.26%.

AFC Gamma Company Profile

(Free Report)

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medical and/or adult use cannabis. 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.

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Institutional Ownership by Quarter for AFC Gamma (NASDAQ:AFCG)

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