AFC Gamma, Inc. (NASDAQ:AFCG) Sees Large Increase in Short Interest

AFC Gamma, Inc. (NASDAQ:AFCG) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 700,500 shares, an increase of 69.0% from the January 15th total of 414,400 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average trading volume of 177,200 shares, the short-interest ratio is presently 4.0 days.

Institutional Investors Weigh In On AFC Gamma

Large investors have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC acquired a new stake in AFC Gamma in the third quarter worth $52,000. GSA Capital Partners LLP acquired a new position in shares of AFC Gamma during the third quarter valued at $140,000. Centiva Capital LP acquired a new position in shares of AFC Gamma during the third quarter valued at $193,000. Barclays PLC increased its holdings in shares of AFC Gamma by 257.0% during the third 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 period. Finally, Geode Capital Management LLC increased its holdings in shares of AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after purchasing an additional 8,877 shares during the period. 26.53% of the stock is owned by institutional investors and hedge funds.

AFC Gamma Price Performance

Shares of NASDAQ AFCG opened at $8.63 on Thursday. AFC Gamma has a 1-year low of $7.94 and a 1-year high of $13.28. 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 business’s fifty day moving average price is $8.65 and its two-hundred day moving average price is $9.46. The firm has a market capitalization of $189.43 million, a PE ratio of 21.58 and a beta of 1.05.

AFC Gamma Dividend Announcement

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 $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 15.30%. The ex-dividend date was Tuesday, December 31st. AFC Gamma’s dividend payout ratio is presently 330.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AFCG shares. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Alliance Global Partners started coverage on AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.67.

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.