RMB Capital Management LLC Grows Position in AFC Gamma, Inc. (NASDAQ:AFCG)

RMB Capital Management LLC increased its position in AFC Gamma, Inc. (NASDAQ:AFCGGet Rating) by 87.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,265 shares of the company’s stock after acquiring an additional 36,525 shares during the period. RMB Capital Management LLC owned approximately 0.40% of AFC Gamma worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the company. Strs Ohio lifted its stake in shares of AFC Gamma by 70.6% in the 4th quarter. Strs Ohio now owns 2,900 shares of the company’s stock valued at $66,000 after purchasing an additional 1,200 shares during the period. Advisor Group Holdings Inc. increased its holdings in AFC Gamma by 32.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 8,260 shares of the company’s stock valued at $187,000 after buying an additional 2,010 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of AFC Gamma in the first quarter worth about $191,000. Rockefeller Capital Management L.P. purchased a new stake in shares of AFC Gamma during the 4th quarter worth about $250,000. Finally, New York State Common Retirement Fund grew its position in shares of AFC Gamma by 120.2% during the 1st quarter. New York State Common Retirement Fund now owns 13,818 shares of the company’s stock valued at $264,000 after acquiring an additional 7,544 shares during the period. 37.72% of the stock is currently owned by hedge funds and other institutional investors.

AFC Gamma Stock Up 1.6 %

NASDAQ:AFCG opened at $17.59 on Friday. AFC Gamma, Inc. has a 52 week low of $14.90 and a 52 week high of $25.50. The stock’s fifty day moving average is $16.41 and its two-hundred day moving average is $17.83. The company has a market capitalization of $347.23 million, a P/E ratio of 9.99 and a beta of 1.18.

AFC Gamma (NASDAQ:AFCGGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $18.64 million during the quarter, compared to the consensus estimate of $17.24 million. AFC Gamma had a return on equity of 11.59% and a net margin of 57.13%. During the same period in the previous year, the company posted $0.45 EPS. Sell-side analysts anticipate that AFC Gamma, Inc. will post 2.53 earnings per share for the current fiscal year.

AFC Gamma Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a $0.56 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $2.24 dividend on an annualized basis and a yield of 12.73%. This is an increase from AFC Gamma’s previous quarterly dividend of $0.55. AFC Gamma’s payout ratio is currently 127.27%.

Analyst Ratings Changes

Separately, Compass Point lowered their price target on AFC Gamma from $20.00 to $17.50 in a research report on Monday, May 16th.

Insiders Place Their Bets

In other news, CEO Leonard M. Tannenbaum acquired 5,000 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was acquired at an average cost of $15.85 per share, with a total value of $79,250.00. Following the transaction, the chief executive officer now owns 5,000 shares in the company, valued at $79,250. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other AFC Gamma news, CEO Leonard M. Tannenbaum bought 5,000 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were acquired at an average price of $15.85 per share, with a total value of $79,250.00. Following the transaction, the chief executive officer now owns 5,000 shares of the company’s stock, valued at $79,250. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan Gilbert Kalikow bought 57,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were acquired at an average price of $15.62 per share, with a total value of $899,712.00. Following the purchase, the director now owns 97,500 shares of the company’s stock, valued at $1,522,950. The disclosure for this purchase can be found here. Insiders bought 87,783 shares of company stock worth $1,380,633 in the last 90 days. Corporate insiders own 28.00% of the company’s stock.

About AFC Gamma

(Get Rating)

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. 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.

See Also

Institutional Ownership by Quarter for AFC Gamma (NASDAQ:AFCG)

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