AFC Gamma, Inc. (NASDAQ:AFCG) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in AFC Gamma, Inc. (NASDAQ:AFCG) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,763 shares of the company’s stock after buying an additional 10,016 shares during the period. Bank of New York Mellon Corp owned approximately 0.37% of AFC Gamma worth $924,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AFCG. Jump Financial LLC raised its holdings in AFC Gamma by 20.3% during the 4th quarter. Jump Financial LLC now owns 21,900 shares of the company’s stock worth $263,000 after buying an additional 3,700 shares during the period. Empowered Funds LLC raised its holdings in shares of AFC Gamma by 8.1% during the first quarter. Empowered Funds LLC now owns 51,324 shares of the company’s stock valued at $635,000 after acquiring an additional 3,850 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of AFC Gamma by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 18,300 shares of the company’s stock valued at $220,000 after acquiring an additional 5,300 shares during the period. Quest Partners LLC purchased a new stake in shares of AFC Gamma in the 4th quarter valued at approximately $87,000. Finally, Hartline Investment Corp acquired a new position in AFC Gamma in the 1st quarter worth approximately $133,000. Institutional investors own 26.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research note on Thursday, June 27th. Jefferies Financial Group reduced their price objective 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. Finally, Compass Point upgraded AFC Gamma from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $9.00 in a research report on Friday, August 16th.

AFC Gamma Stock Down 0.5 %

AFC Gamma stock opened at $10.70 on Friday. The firm’s 50 day moving average price is $9.80 and its two-hundred day moving average price is $11.24. The firm has a market cap of $221.14 million, a PE ratio of 20.58 and a beta of 1.05. AFC Gamma, Inc. has a twelve month low of $8.06 and a twelve month high of $13.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.77 and a current ratio of 4.77.

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 business had revenue of $19.96 million during the quarter, compared to analyst estimates of $16.48 million. AFC Gamma had a return on equity of 12.41% and a net margin of 21.97%. On average, research analysts predict that AFC Gamma, Inc. will post 2 EPS for the current fiscal year.

AFC Gamma Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.32 annualized dividend and a dividend yield of 12.34%. AFC Gamma’s dividend payout ratio is 253.85%.

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.