Allspring Global Investments Holdings LLC Has $123,000 Stock Holdings in AFC Gamma, Inc. (NASDAQ:AFCG)

Allspring Global Investments Holdings LLC cut its position in AFC Gamma, Inc. (NASDAQ:AFCG) by 20.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,091 shares of the company’s stock after selling 3,026 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of AFC Gamma worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AFCG. Tidal Investments LLC bought a new position in shares of AFC Gamma in the 1st quarter valued at about $7,001,000. Ritholtz Wealth Management raised its stake in AFC Gamma by 91.1% in the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock worth $621,000 after purchasing an additional 28,998 shares in the last quarter. Anson Funds Management LP acquired a new stake in AFC Gamma in the 1st quarter worth about $319,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of AFC Gamma by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company’s stock valued at $3,519,000 after buying an additional 24,506 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of AFC Gamma by 88.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 46,806 shares of the company’s stock valued at $579,000 after buying an additional 21,915 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Compass Point raised shares of AFC Gamma from a “sell” rating to a “neutral” rating and decreased their price target for the company from $10.00 to $9.00 in a report on Friday, August 16th. Jefferies Financial Group cut their target price on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Finally, Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AFC Gamma has a consensus rating of “Moderate Buy” and an average target price of $11.00.

AFC Gamma Price Performance

AFCG opened at $9.71 on Tuesday. The firm has a 50-day moving average price of $10.20 and a 200-day moving average price of $10.78. The company has a market capitalization of $200.71 million, a price-to-earnings ratio of 13.30 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 quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.11.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. The firm had revenue of $19.96 million during the quarter, compared to analyst estimates of $16.48 million. Equities analysts expect that AFC Gamma, Inc. will post 1.69 EPS for the current year.

AFC Gamma Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 13.59%. The ex-dividend date was Monday, September 30th. AFC Gamma’s dividend payout ratio is presently 180.82%.

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.