Short Interest in AFC Gamma, Inc. (NASDAQ:AFCG) Rises By 34.8%

AFC Gamma, Inc. (NASDAQ:AFCG) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 646,100 shares, a growth of 34.8% from the December 15th total of 479,400 shares. Based on an average daily volume of 174,300 shares, the short-interest ratio is presently 3.7 days. Currently, 3.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. McIlrath & Eck LLC acquired a new stake in shares of AFC Gamma in the third quarter worth $52,000. GSA Capital Partners LLP acquired a new stake in shares of AFC Gamma in the third quarter worth $140,000. Centiva Capital LP acquired a new stake in shares of AFC Gamma in the third quarter worth $193,000. Barclays PLC increased 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 worth $231,000 after acquiring an additional 16,245 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after acquiring an additional 8,877 shares during the period. Institutional investors and hedge funds own 26.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AFCG. Seaport Res Ptn upgraded AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Alliance Global Partners assumed coverage on AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price on the stock. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AFC Gamma has an average rating of “Moderate Buy” and a consensus target price of $11.67.

AFC Gamma Trading Up 0.5 %

Shares of AFC Gamma stock opened at $8.44 on Friday. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma has a 12-month low of $8.06 and a 12-month high of $13.28. The firm has a market capitalization of $185.26 million, a price-to-earnings ratio of 21.10 and a beta of 1.05. The firm’s 50 day simple moving average is $9.13 and its two-hundred day simple moving average is $9.72.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis and a yield of 15.64%. AFC Gamma’s payout ratio is 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.