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

AFC Gamma, Inc. (NASDAQ:AFCG) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 646,100 shares, a growth of 34.8% from the December 15th total of 479,400 shares. Based on an average daily volume of 174,300 shares, the short-interest ratio is presently 3.7 days. Approximately 3.7% of the shares of the company are sold short.

Hedge Funds Weigh In On AFC Gamma

Hedge funds have recently made changes to their positions in the business. McIlrath & Eck LLC acquired a new stake in AFC Gamma during the third quarter valued at approximately $52,000. GSA Capital Partners LLP bought a new position in shares of AFC Gamma in the third quarter valued at $140,000. Centiva Capital LP acquired a new stake in shares of AFC Gamma during the 3rd quarter valued at $193,000. Barclays PLC boosted its stake in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after acquiring an additional 16,245 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of AFC Gamma by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after acquiring an additional 1,071 shares during the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

AFC Gamma Trading Up 1.1 %

Shares of AFC Gamma stock opened at $8.40 on Thursday. The business has a fifty day simple moving average of $9.16 and a 200-day simple moving average of $9.73. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.28. The firm has a market cap of $184.41 million, a price-to-earnings ratio of 21.00 and a beta of 1.05. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 15.71%. The ex-dividend date of this dividend was Tuesday, December 31st. AFC Gamma’s payout ratio is 330.00%.

Analyst Ratings Changes

Several equities research analysts 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 assumed coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target for the company. Two research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

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.