AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Down 8.6% in June

AFC Gamma, Inc. (NASDAQ:AFCG) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 653,400 shares, a decline of 8.6% from the May 31st total of 714,700 shares. Approximately 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 114,600 shares, the short-interest ratio is currently 5.7 days.

Analyst Ratings Changes

AFCG has been the topic of a number of analyst reports. Compass Point cut shares of AFC Gamma from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock. in a research note on Tuesday, May 28th. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research note on Thursday.

Insider Activity

In other AFC Gamma news, Chairman Leonard M. Tannenbaum bought 31,335 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average price of $12.09 per share, for a total transaction of $378,840.15. Following the acquisition, the chairman now owns 3,775,973 shares in the company, valued at approximately $45,651,513.57. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 26.20% of the company’s stock.

Hedge Funds Weigh In On AFC Gamma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake in AFC Gamma by 45.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,030 shares of the company’s stock valued at $85,000 after acquiring an additional 2,212 shares during the period. Jump Financial LLC increased its position in shares of AFC Gamma by 20.3% during the 4th quarter. Jump Financial LLC now owns 21,900 shares of the company’s stock valued at $263,000 after purchasing an additional 3,700 shares during the last quarter. Empowered Funds LLC increased its position in shares of AFC Gamma by 8.1% during the 1st quarter. Empowered Funds LLC now owns 51,324 shares of the company’s stock valued at $635,000 after purchasing an additional 3,850 shares during the last quarter. AXS Investments LLC increased its position in shares of AFC Gamma by 4.8% during the 4th quarter. AXS Investments LLC now owns 83,873 shares of the company’s stock valued at $1,009,000 after purchasing an additional 3,869 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in shares of AFC Gamma by 40.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 18,300 shares of the company’s stock valued at $220,000 after purchasing an additional 5,300 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

AFC Gamma Stock Performance

Shares of AFC Gamma stock opened at $12.20 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.86 and a quick ratio of 4.86. The stock has a market cap of $252.17 million, a price-to-earnings ratio of 23.46 and a beta of 1.01. The firm’s 50-day moving average is $12.12 and its 200 day moving average is $12.01. AFC Gamma has a 1 year low of $10.41 and a 1 year high of $14.60.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Thursday, May 9th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $16.36 million for the quarter, compared to the consensus estimate of $18.50 million. AFC Gamma had a net margin of 16.27% and a return on equity of 11.77%. Sell-side analysts anticipate that AFC Gamma will post 1.92 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 8th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 15.74%. The ex-dividend date of this dividend is Monday, July 8th. AFC Gamma’s dividend payout ratio is currently 369.24%.

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.