Nisa Investment Advisors LLC Has $59,000 Stake in AFC Gamma, Inc. (NASDAQ:AFCG)

Nisa Investment Advisors LLC lowered its stake in AFC Gamma, Inc. (NASDAQ:AFCG) by 25.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,594 shares of the company’s stock after selling 1,946 shares during the period. Nisa Investment Advisors LLC’s holdings in AFC Gamma were worth $59,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AFCG. Tidal Investments LLC bought a new position in AFC Gamma in the 1st quarter valued at $7,001,000. Ritholtz Wealth Management lifted its stake in shares of AFC Gamma by 91.1% during the third quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after acquiring an additional 28,998 shares during the period. Anson Funds Management LP bought a new position in AFC Gamma in the first quarter valued at about $319,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in AFC Gamma by 9.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company’s stock valued at $3,519,000 after acquiring an additional 24,506 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in AFC Gamma by 88.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 46,806 shares of the company’s stock worth $579,000 after purchasing an additional 21,915 shares during the period. Institutional investors own 26.53% of the company’s stock.

Analyst Ratings Changes

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

AFC Gamma Stock Performance

Shares of AFCG stock opened at $9.80 on Friday. The stock has a market cap of $202.57 million, a PE ratio of 13.42 and a beta of 1.05. The stock has a 50-day moving average of $10.18 and a 200-day moving average of $10.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.77 and a quick ratio of 4.77. AFC Gamma, Inc. has a one year low of $8.06 and a one year high of $13.35.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. The firm had revenue of $19.96 million during the quarter, compared to the consensus estimate of $16.48 million. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. As a group, sell-side analysts expect that AFC Gamma, Inc. will post 1.69 earnings per share for the current year.

AFC Gamma Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 13.47%. The ex-dividend date was Monday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is 180.82%.

About AFC Gamma

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.