AFC Gamma, Inc. (NASDAQ:AFCG) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in AFC Gamma, Inc. (NASDAQ:AFCG) by 57.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,225 shares of the company’s stock after acquiring an additional 8,877 shares during the quarter. Geode Capital Management LLC’s holdings in AFC Gamma were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of AFC Gamma by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after purchasing an additional 2,200 shares during the period. State Street Corp raised its position in AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after acquiring an additional 10,320 shares during the period. Barclays PLC raised its position in AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after acquiring an additional 16,245 shares during the period. Renaissance Technologies LLC raised its position in AFC Gamma by 1.4% during the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after acquiring an additional 1,900 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in AFC Gamma by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after acquiring an additional 1,071 shares during the period. 26.53% of the stock is currently owned by institutional investors and hedge funds.

AFC Gamma Price Performance

Shares of NASDAQ AFCG opened at $8.33 on Tuesday. The firm has a 50-day simple moving average of $9.19 and a 200-day simple moving average of $9.75. The stock has a market capitalization of $182.87 million, a price-to-earnings ratio of 20.83 and a beta of 1.05. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma, Inc. has a 52 week low of $8.06 and a 52 week high of $13.28.

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.85%. The ex-dividend date is Tuesday, December 31st. AFC Gamma’s dividend payout ratio (DPR) is 330.00%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Alliance Global Partners assumed coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

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.