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

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

AFC Gamma Price Performance

Shares of NASDAQ AFCG opened at $8.72 on Friday. AFC Gamma has a fifty-two week low of $7.94 and a fifty-two week high of $13.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The company has a market cap of $191.40 million, a PE ratio of 21.80 and a beta of 1.05. The business has a 50-day simple moving average of $8.63 and a two-hundred day simple moving average of $9.46.

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. This represents a $1.32 annualized dividend and a yield of 15.14%. The ex-dividend date of this dividend was Tuesday, December 31st. AFC Gamma’s dividend payout ratio is presently 330.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AFCG. McIlrath & Eck LLC acquired a new stake in shares of AFC Gamma during the third quarter worth $52,000. GSA Capital Partners LLP purchased a new position in AFC Gamma in the 3rd quarter worth $140,000. Martingale Asset Management L P lifted its position in 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 acquiring an additional 4,005 shares during the period. Centiva Capital LP purchased a new stake in AFC Gamma during the 3rd quarter valued at about $193,000. Finally, Barclays PLC increased its holdings 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 purchasing an additional 16,245 shares during the period. Institutional investors and hedge funds own 26.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AFCG. Alliance Global Partners assumed coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AFC Gamma presently has an average rating of “Moderate Buy” and an average target price 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.