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

AFC Gamma, Inc. (NASDAQ:AFCG) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 414,400 shares, a drop of 35.9% from the December 31st total of 646,100 shares. Based on an average daily volume of 176,900 shares, the days-to-cover ratio is presently 2.3 days. Currently, 2.4% of the company’s shares are sold short.

AFC Gamma Stock Up 0.5 %

Shares of NASDAQ:AFCG opened at $8.17 on Friday. The stock’s 50-day moving average is $8.86 and its 200 day moving average is $9.52. The company has a market cap of $179.33 million, a PE ratio of 20.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. AFC Gamma has a 1 year low of $7.94 and a 1 year high of $13.28.

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 annualized dividend and a dividend yield of 16.16%. AFC Gamma’s dividend payout ratio (DPR) is presently 330.00%.

Analysts Set New Price Targets

AFCG has been the topic of a number of recent research reports. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Finally, Alliance Global Partners initiated coverage on shares of AFC Gamma in a report 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Hedge Funds Weigh In On AFC Gamma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in AFC Gamma by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after buying an additional 1,071 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of AFC Gamma by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after acquiring an additional 1,900 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of AFC Gamma by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after acquiring an additional 2,200 shares in the last quarter. McIlrath & Eck LLC bought a new position in shares of AFC Gamma in the 3rd quarter worth approximately $52,000. Finally, Geode Capital Management LLC lifted its stake in shares of AFC Gamma by 57.8% in the 3rd 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. Institutional investors own 26.53% of the company’s stock.

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.