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

AFC Gamma, Inc. (NASDAQ:AFCG) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 812,800 shares, an increase of 24.4% from the June 15th total of 653,400 shares. Approximately 4.9% of the company’s shares are short sold. Based on an average daily volume of 114,600 shares, the short-interest ratio is currently 7.1 days.

AFC Gamma Trading Up 4.2 %

Shares of AFCG opened at $8.74 on Monday. AFC Gamma has a twelve month low of $8.06 and a twelve month high of $14.60. The firm has a market capitalization of $180.66 million, a P/E ratio of 16.81 and a beta of 1.03. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $11.94 and its 200 day simple moving average is $11.90.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $16.36 million during the quarter, compared to analysts’ expectations of $18.50 million. AFC Gamma had a return on equity of 11.77% and a net margin of 16.27%. On average, equities research analysts forecast that AFC Gamma will post 1.92 earnings per share for the current year.

AFC Gamma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 8th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, July 8th. This represents a $1.92 dividend on an annualized basis and a yield of 21.97%. AFC Gamma’s dividend payout ratio (DPR) is 369.24%.

Wall Street Analyst Weigh In

AFCG has been the subject of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, June 27th. Compass Point cut shares of AFC Gamma from a “neutral” rating to a “sell” rating and set a $10.00 target price on the stock. in a research report on Tuesday, May 28th.

Insider Buying and Selling at AFC Gamma

In other news, Chairman Leonard M. Tannenbaum purchased 31,335 shares of the stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost of $12.09 per share, for a total transaction of $378,840.15. Following the completion of the acquisition, the chairman now directly 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 through the SEC website. 26.20% of the stock is owned by insiders.

Institutional Investors Weigh In On AFC Gamma

Large investors have recently made changes to their positions in the business. Tidal Investments LLC purchased a new stake in AFC Gamma during the 1st quarter worth $7,001,000. Wasatch Advisors LP boosted its position in shares of AFC Gamma by 86.3% in the fourth quarter. Wasatch Advisors LP now owns 573,915 shares of the company’s stock worth $6,904,000 after buying an additional 265,835 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of AFC Gamma by 106.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 86,157 shares of the company’s stock valued at $1,036,000 after buying an additional 44,350 shares in the last quarter. Anson Funds Management LP acquired a new position in AFC Gamma during the 1st quarter worth approximately $319,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in AFC Gamma by 9.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company’s stock worth $3,519,000 after acquiring an additional 24,506 shares in the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

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.