Short Interest in AFC Gamma, Inc. (NASDAQ:AFCG) Drops By 23.3%

AFC Gamma, Inc. (NASDAQ:AFCG) was the target of a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 537,000 shares, a decline of 23.3% from the January 31st total of 700,500 shares. Based on an average daily volume of 182,500 shares, the short-interest ratio is currently 2.9 days. Currently, 3.0% of the shares of the company are short sold.

Analysts Set New Price Targets

AFCG has been the topic of a number of research reports. JMP Securities restated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Alliance Global Partners assumed coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. Two equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. McIlrath & Eck LLC acquired a new position in shares of AFC Gamma during the third quarter worth about $52,000. GSA Capital Partners LLP acquired a new position in AFC Gamma during the 3rd quarter worth approximately $140,000. Martingale Asset Management L P raised its stake in shares of AFC Gamma by 24.1% during the 4th quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock worth $172,000 after buying an additional 4,005 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of AFC Gamma in the 3rd quarter valued at approximately $193,000. Finally, Barclays PLC boosted its stake in shares of AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after buying an additional 16,245 shares in the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

AFC Gamma Price Performance

Shares of AFCG opened at $8.38 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. AFC Gamma has a fifty-two week low of $7.80 and a fifty-two week high of $13.28. The firm has a 50-day simple moving average of $8.44 and a 200-day simple moving average of $9.38. The company has a market capitalization of $183.97 million, a price-to-earnings ratio of 20.95 and a beta of 1.05.

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 paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 15.75%. AFC Gamma’s dividend payout ratio (DPR) is currently 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.