AFC Gamma, Inc. (NASDAQ:AFCG) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in AFC Gamma, Inc. (NASDAQ:AFCG) by 4.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 50,403 shares of the company’s stock after acquiring an additional 2,200 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in AFC Gamma were worth $515,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in AFC Gamma during the third quarter valued at $140,000. The Manufacturers Life Insurance Company raised its position in shares of AFC Gamma by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after purchasing an additional 1,071 shares during the last quarter. Spire Wealth Management lifted its stake in AFC Gamma by 141.5% in the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock valued at $362,000 after buying an additional 17,400 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in AFC Gamma by 51.1% in the 2nd quarter. Ritholtz Wealth Management now owns 31,822 shares of the company’s stock worth $388,000 after buying an additional 10,758 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in AFC Gamma by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company’s stock worth $924,000 after buying an additional 10,016 shares in the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

AFC Gamma Price Performance

AFCG stock opened at $8.72 on Friday. AFC Gamma, Inc. has a 1 year low of $8.06 and a 1 year high of $13.35. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. The firm has a market capitalization of $191.43 million, a PE ratio of 21.80 and a beta of 1.03. The business has a 50 day simple moving average of $9.69 and a 200-day simple moving average of $10.20.

AFC Gamma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 15.14%. The ex-dividend date is Tuesday, December 31st. AFC Gamma’s payout ratio is currently 330.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Alliance Global Partners assumed coverage on AFC Gamma in a research report on Tuesday. They issued a “buy” rating and a $13.00 target price on the stock. Seaport Res Ptn upgraded AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. 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 report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.