AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Up 34.8% in January

AFC Gamma, Inc. (NASDAQ:AFCG) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 646,100 shares, an increase of 34.8% from the December 31st total of 479,400 shares. Currently, 3.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 174,300 shares, the days-to-cover ratio is presently 3.7 days.

Hedge Funds Weigh In On AFC Gamma

Large investors have recently bought and sold shares of the company. McIlrath & Eck LLC acquired a new position in shares of AFC Gamma in the third quarter valued at approximately $52,000. GSA Capital Partners LLP acquired a new position in AFC Gamma in the 3rd quarter valued at approximately $140,000. Centiva Capital LP bought a new position in shares of AFC Gamma during the third quarter valued at $193,000. Barclays PLC lifted 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 worth $231,000 after purchasing an additional 16,245 shares during the period. Finally, Geode Capital Management LLC grew 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 purchasing an additional 8,877 shares during the last quarter. 26.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Alliance Global Partners began coverage on AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 target price for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.67.

AFC Gamma Price Performance

Shares of NASDAQ:AFCG opened at $8.17 on Friday. AFC Gamma has a one year low of $7.94 and a one 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 company has a market cap of $179.33 million, a price-to-earnings ratio of 20.43 and a beta of 1.05. The firm has a 50 day simple moving average of $8.86 and a 200 day simple moving average of $9.52.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.33 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis 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.