Barclays PLC Increases Position in AFC Gamma, Inc. (NASDAQ:AFCG)

Barclays PLC increased its position in shares of AFC Gamma, Inc. (NASDAQ:AFCG) by 257.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,567 shares of the company’s stock after acquiring an additional 16,245 shares during the quarter. Barclays PLC owned about 0.11% of AFC Gamma worth $231,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in AFC Gamma in the 3rd quarter worth $140,000. Centiva Capital LP acquired a new position in shares of AFC Gamma in the third quarter valued at about $193,000. The Manufacturers Life Insurance Company raised its stake in shares of AFC Gamma by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after purchasing an additional 1,071 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of AFC Gamma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after purchasing an additional 2,200 shares during the period. Finally, Ritholtz Wealth Management boosted its position in AFC Gamma by 91.1% in the third quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after buying an additional 28,998 shares during the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AFCG shares. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Alliance Global Partners began coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AFC Gamma presently has an average rating of “Moderate Buy” and an average target price of $11.67.

AFC Gamma Stock Performance

NASDAQ:AFCG opened at $8.38 on Tuesday. The company has a fifty day simple moving average of $9.33 and a two-hundred day simple moving average of $9.88. The company has a market cap of $183.97 million, a price-to-earnings ratio of 20.95 and a beta of 1.05. AFC Gamma, Inc. has a 52 week low of $8.06 and a 52 week high of $13.28. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 15.75%. The ex-dividend date of this dividend is Tuesday, December 31st. AFC Gamma’s dividend payout ratio (DPR) is presently 330.00%.

About AFC Gamma

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.