AFC Gamma (NASDAQ:AFCG) Shares Down 2.8% - Should You Sell?

Key Points

• AFC Gamma's stock decreased by 2.8%, closing at $4.55, which is down from its previous close of $4.68, with a trading volume 25% below its average.
• The company announced a quarterly dividend of $0.15 per share, yielding 13.19% annually, although its payout ratio stands at 60.61%.
• Martingale Asset Management L P increased its stake in AFC Gamma by 24.1%, demonstrating institutional interest in the company.

Shares of AFC Gamma Inc. (NASDAQ:AFCG - ) were down 2.8% on Tuesday . The company traded as low as $4.52 and last traded at $4.55. Approximately 123,087 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 163,907 shares. The stock had previously closed at $4.68.

AFC Gamma Stock Performance

The stock has a market capitalization of $102.83 million, a P/E ratio of 4.60 and a beta of 1.07. The company's 50-day moving average is $4.80 and its two-hundred day moving average is $6.14. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.11.

AFC Gamma Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.19%. The ex-dividend date of this dividend was Monday, June 30th. AFC Gamma's dividend payout ratio is currently 60.61%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AFC Gamma stock. Martingale Asset Management L P boosted its holdings in AFC Gamma Inc. (NASDAQ:AFCG - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,623 shares of the company's stock after buying an additional 4,005 shares during the quarter. Martingale Asset Management L P owned 0.09% of AFC Gamma worth $172,000 as of its most recent SEC filing. 26.53% of the stock is currently owned by institutional investors.

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.

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