AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Update

AFC Gamma, Inc. (NASDAQ:AFCG) was the target of a large decline in short interest in January. As of January 15th, there was short interest totalling 414,400 shares, a decline of 35.9% from the December 31st total of 646,100 shares. Based on an average daily trading volume, of 176,900 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On AFC Gamma

A number of hedge funds and other institutional investors have recently bought and sold shares of AFCG. McIlrath & Eck LLC purchased a new stake in shares of AFC Gamma during the 3rd quarter valued at $52,000. GSA Capital Partners LLP purchased a new stake in AFC Gamma during the third quarter valued at about $140,000. Centiva Capital LP purchased a new position in shares of AFC Gamma in the 3rd quarter worth about $193,000. Barclays PLC increased its position in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after purchasing an additional 16,245 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after buying an additional 8,877 shares in the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Alliance Global Partners started coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AFC Gamma currently has an average rating of “Moderate Buy” and an average target price of $11.67.

AFC Gamma Stock Performance

Shares of AFCG opened at $8.17 on Friday. AFC Gamma has a 12-month low of $7.94 and a 12-month high of $13.28. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The company has a market cap of $179.33 million, a PE ratio of 20.43 and a beta of 1.05. The stock has a 50-day moving average price of $8.86 and a 200-day moving average price of $9.52.

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 annualized dividend and a yield of 16.16%. AFC Gamma’s payout ratio is presently 330.00%.

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.