GSA Capital Partners LLP Buys New Shares in AFC Gamma, Inc. (NASDAQ:AFCG)

GSA Capital Partners LLP purchased a new position in AFC Gamma, Inc. (NASDAQ:AFCG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,721 shares of the company’s stock, valued at approximately $140,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AFCG. The Manufacturers Life Insurance Company lifted 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 valued at $284,000 after buying an additional 1,071 shares during the period. Spire Wealth Management lifted its position in shares of AFC Gamma by 141.5% in the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock worth $362,000 after acquiring an additional 17,400 shares during the period. Ritholtz Wealth Management grew its holdings in shares of AFC Gamma by 51.1% during the 2nd quarter. Ritholtz Wealth Management now owns 31,822 shares of the company’s stock worth $388,000 after purchasing an additional 10,758 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of AFC Gamma by 88.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 46,806 shares of the company’s stock valued at $579,000 after purchasing an additional 21,915 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of AFC Gamma by 15.2% in the second quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company’s stock valued at $924,000 after purchasing an additional 10,016 shares in the last quarter. Institutional investors own 26.53% of the company’s stock.

Analysts Set New Price Targets

AFCG has been the topic of several analyst reports. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Compass Point raised shares of AFC Gamma from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $9.00 in a research report on Friday, August 16th. Finally, Jefferies Financial Group decreased their price objective on AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.00.

AFC Gamma Stock Performance

NASDAQ:AFCG opened at $9.62 on Tuesday. The stock has a market capitalization of $211.16 million, a P/E ratio of 24.05 and a beta of 1.05. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma, Inc. has a 1 year low of $8.06 and a 1 year high of $13.35. The firm has a 50 day moving average of $9.98 and a 200-day moving average of $10.52.

AFC Gamma Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 13.72%. The ex-dividend date was Monday, September 30th. AFC Gamma’s dividend payout ratio is currently 330.00%.

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.