Mirae Asset Global Investments Co. Ltd. Sells 24,278 Shares of AFC Gamma, Inc. (NASDAQ:AFCG)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in AFC Gamma, Inc. (NASDAQ:AFCG) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 255,028 shares of the company’s stock after selling 24,278 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.25% of AFC Gamma worth $3,068,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of AFC Gamma by 9.2% in the 2nd quarter. BlackRock Inc. now owns 1,320,864 shares of the company’s stock worth $16,445,000 after buying an additional 110,755 shares during the last quarter. Federated Hermes Inc. lifted its stake in AFC Gamma by 12.5% in the first quarter. Federated Hermes Inc. now owns 900,000 shares of the company’s stock valued at $17,208,000 after purchasing an additional 100,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in AFC Gamma by 0.3% in the third quarter. Vanguard Group Inc. now owns 855,827 shares of the company’s stock valued at $10,047,000 after purchasing an additional 2,336 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in AFC Gamma by 7.8% in the first quarter. Wasatch Advisors Inc. now owns 566,335 shares of the company’s stock valued at $10,828,000 after purchasing an additional 40,915 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC lifted its stake in AFC Gamma by 13.5% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 344,917 shares of the company’s stock valued at $6,595,000 after purchasing an additional 40,944 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

AFC Gamma Price Performance

AFC Gamma stock opened at $11.35 on Thursday. AFC Gamma, Inc. has a 12 month low of $9.91 and a 12 month high of $14.60. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $11.88 and its 200 day simple moving average is $11.72. The company has a market cap of $234.57 million, a price-to-earnings ratio of 11.13 and a beta of 1.05.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. AFC Gamma had a return on equity of 12.10% and a net margin of 30.38%. The business had revenue of $15.97 million for the quarter, compared to the consensus estimate of $18.06 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. Sell-side analysts forecast that AFC Gamma, Inc. will post 1.93 EPS for the current year.

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Sunday, March 31st were issued a dividend of $0.48 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 16.92%. AFC Gamma’s payout ratio is 188.24%.

AFC Gamma Company 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.