Intrepid Capital Management Inc. bought a new stake in AFC Gamma, Inc. (NASDAQ:AFCG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 55,026 shares of the company’s stock, valued at approximately $1,136,000. Intrepid Capital Management Inc. owned about 0.34% of AFC Gamma at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AFCG. Morgan Stanley bought a new position in shares of AFC Gamma in the first quarter worth about $48,000. Rockbridge Investment Management LCC acquired a new position in AFC Gamma during the 2nd quarter worth $62,000. Advisor Group Holdings Inc. boosted its position in AFC Gamma by 1,340.0% in the 2nd quarter. Advisor Group Holdings Inc. now owns 3,600 shares of the company’s stock valued at $75,000 after buying an additional 3,350 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of AFC Gamma in the 2nd quarter valued at $89,000. Finally, New York State Common Retirement Fund bought a new stake in shares of AFC Gamma during the second quarter worth $128,000. Institutional investors and hedge funds own 54.15% of the company’s stock.
A number of analysts recently commented on AFCG shares. Zacks Investment Research lowered AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 12th. Cowen started coverage on shares of AFC Gamma in a research note on Wednesday, August 11th. They set an “outperform” rating and a $27.00 price target for the company. Compass Point began coverage on shares of AFC Gamma in a research note on Tuesday, June 15th. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Jefferies Financial Group assumed coverage on shares of AFC Gamma in a research report on Thursday, August 26th. They set a “buy” rating and a $24.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $26.45.
AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings data on Wednesday, August 4th. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.12). The firm had revenue of $8.75 million during the quarter, compared to analyst estimates of $8.65 million. On average, research analysts predict that AFC Gamma, Inc. will post 1.79 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, September 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.73%.
About AFC Gamma
AFC Gamma, Inc originates, structures, underwrites, and manages senior secured loans and other types of loans for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. It primarily originates loans structured as senior loans secured by real estate, equipment, licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.
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