Mirae Asset Global Investments Co. Ltd. Sells 24,278 Shares of AFC Gamma, Inc. (NASDAQ:AFCG)

Mirae Asset Global Investments Co. Ltd. reduced its stake in AFC Gamma, Inc. (NASDAQ:AFCG) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 255,028 shares of the company’s stock after selling 24,278 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AFC Gamma were worth $3,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in AFC Gamma by 9.2% in the 2nd quarter. BlackRock Inc. now owns 1,320,864 shares of the company’s stock valued at $16,445,000 after acquiring an additional 110,755 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of AFC Gamma by 12.5% in the 1st quarter. Federated Hermes Inc. now owns 900,000 shares of the company’s stock worth $17,208,000 after buying an additional 100,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of AFC Gamma by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 855,827 shares of the company’s stock worth $10,047,000 after buying an additional 2,336 shares during the last quarter. Wasatch Advisors Inc. increased its holdings in shares of AFC Gamma by 7.8% in the 1st quarter. Wasatch Advisors Inc. now owns 566,335 shares of the company’s stock worth $10,828,000 after buying an additional 40,915 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC increased its holdings in shares of AFC Gamma by 13.5% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 344,917 shares of the company’s stock worth $6,595,000 after buying an additional 40,944 shares during the last quarter. 26.53% of the stock is currently owned by institutional investors.

AFC Gamma Stock Performance

AFC Gamma stock opened at $11.35 on Thursday. The company’s 50-day moving average price is $11.88 and its 200-day moving average price is $11.72. AFC Gamma, Inc. has a twelve month low of $9.91 and a twelve month high of $14.60. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.13. The company has a market cap of $234.57 million, a PE ratio of 11.13 and a beta of 1.05.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Thursday, March 7th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. AFC Gamma had a net margin of 30.38% and a return on equity of 12.10%. The firm had revenue of $15.97 million for the quarter, compared to the consensus estimate of $18.06 million. During the same period in the previous year, the firm posted $0.61 EPS. On average, equities research analysts forecast that AFC Gamma, Inc. will post 1.93 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 16.92%. AFC Gamma’s dividend payout ratio (DPR) is presently 188.24%.

AFC Gamma 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.