Tidal Investments LLC Acquires New Stake in AFC Gamma, Inc. (NASDAQ:AFCG)

Tidal Investments LLC bought a new position in AFC Gamma, Inc. (NASDAQ:AFCG) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 565,529 shares of the company’s stock, valued at approximately $7,001,000. Tidal Investments LLC owned approximately 2.74% of AFC Gamma at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Wasatch Advisors LP raised its position in AFC Gamma by 11.6% in the 1st quarter. Wasatch Advisors LP now owns 640,617 shares of the company’s stock worth $7,931,000 after buying an additional 66,702 shares during the last quarter. Quest Partners LLC bought a new stake in shares of AFC Gamma in the fourth quarter worth approximately $87,000. Jump Financial LLC raised its holdings in shares of AFC Gamma by 20.3% during the fourth quarter. Jump Financial LLC now owns 21,900 shares of the company’s stock valued at $263,000 after purchasing an additional 3,700 shares during the last quarter. Ritholtz Wealth Management bought a new position in AFC Gamma during the fourth quarter valued at approximately $124,000. Finally, Spire Wealth Management purchased a new stake in AFC Gamma in the fourth quarter worth approximately $65,000. 26.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AFC Gamma

In related news, Chairman Leonard M. Tannenbaum acquired 31,335 shares of the stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost of $12.09 per share, with a total value of $378,840.15. Following the purchase, the chairman now directly owns 3,775,973 shares of the company’s stock, valued at $45,651,513.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 26.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AFCG has been the subject of a number of research reports. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, June 27th. Compass Point downgraded AFC Gamma from a “neutral” rating to a “sell” rating and set a $10.00 target price on the stock. in a report on Tuesday, May 28th.

AFC Gamma Stock Performance

NASDAQ:AFCG traded down $0.15 during mid-day trading on Thursday, hitting $8.82. 39,426 shares of the company traded hands, compared to its average volume of 131,695. AFC Gamma, Inc. has a one year low of $8.06 and a one year high of $13.90. The company has a quick ratio of 4.86, a current ratio of 4.86 and a debt-to-equity ratio of 0.19. The firm has a market cap of $182.31 million, a price-to-earnings ratio of 17.25 and a beta of 1.03. The stock’s fifty day moving average price is $11.14 and its 200-day moving average price is $11.65.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $16.36 million during the quarter, compared to the consensus estimate of $18.50 million. AFC Gamma had a return on equity of 11.77% and a net margin of 16.27%. Research analysts anticipate that AFC Gamma, Inc. will post 1.92 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 8th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 21.77%. The ex-dividend date of this dividend was Monday, July 8th. AFC Gamma’s dividend payout ratio is presently 369.24%.

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.