AFC Gamma, Inc. (NASDAQ:AFCG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of AFC Gamma, Inc. (NASDAQ:AFCG) by 25.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,035 shares of the company’s stock after selling 6,190 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.09% of AFC Gamma worth $217,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ritholtz Wealth Management acquired a new stake in AFC Gamma during the fourth quarter worth about $124,000. SG Americas Securities LLC purchased a new position in shares of AFC Gamma during the 4th quarter valued at approximately $108,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of AFC Gamma by 5.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,306 shares of the company’s stock valued at $3,279,000 after purchasing an additional 13,423 shares during the period. Nisa Investment Advisors LLC boosted its holdings in AFC Gamma by 19.2% during the third quarter. Nisa Investment Advisors LLC now owns 9,825 shares of the company’s stock worth $115,000 after buying an additional 1,582 shares in the last quarter. Finally, Cambria Investment Management L.P. grew its position in AFC Gamma by 49.7% during the third quarter. Cambria Investment Management L.P. now owns 24,675 shares of the company’s stock valued at $290,000 after buying an additional 8,190 shares during the period. 26.53% of the stock is owned by hedge funds and other institutional investors.

AFC Gamma Trading Up 1.0 %

Shares of AFC Gamma stock opened at $11.82 on Friday. The firm has a 50-day simple moving average of $11.92 and a two-hundred day simple moving average of $11.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.87 and a current ratio of 4.87. AFC Gamma, Inc. has a fifty-two week low of $9.91 and a fifty-two week high of $14.60. The company has a market cap of $244.32 million, a P/E ratio of 11.59 and a beta of 1.05.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. AFC Gamma had a return on equity of 12.10% and a net margin of 30.38%. The firm had revenue of $15.97 million during the quarter, compared to analyst estimates of $18.06 million. During the same quarter in the previous year, the business earned $0.61 EPS. As a group, equities analysts predict that AFC Gamma, Inc. will post 1.93 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Sunday, March 31st were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 16.24%. The ex-dividend date was Wednesday, March 27th. AFC Gamma’s dividend payout ratio (DPR) is 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.