AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Up 69.0% in January

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 700,500 shares, an increase of 69.0% from the January 15th total of 414,400 shares. Approximately 4.0% of the shares of the stock are short sold. Based on an average trading volume of 177,200 shares, the days-to-cover ratio is currently 4.0 days.

Analyst Ratings Changes

A number of research analysts have issued reports on AFCG shares. JMP Securities restated a "market perform" rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Alliance Global Partners started coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $11.67.

Hedge Funds Weigh In On AFC Gamma

Large investors have recently modified their holdings of the company. Tidal Investments LLC lifted its stake in AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company's stock valued at $5,305,000 after acquiring an additional 85,655 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 during the last quarter. State Street Corp increased its holdings in AFC Gamma by 2.8% in the 3rd quarter. State Street Corp now owns 376,611 shares of the company's stock worth $3,968,000 after acquiring an additional 10,320 shares during the last quarter. Geode Capital Management LLC increased its holdings in AFC Gamma by 57.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock worth $248,000 after acquiring an additional 8,877 shares during the last quarter. Finally, Barclays PLC increased its holdings in AFC Gamma by 257.0% in 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 during the last quarter. 26.53% of the stock is currently owned by institutional investors.

AFC Gamma Trading Up 0.2 %

Shares of AFC Gamma stock traded up $0.02 on Friday, hitting $8.74. The stock had a trading volume of 152,574 shares, compared to its average volume of 158,144. The firm has a market capitalization of $191.84 million, a P/E ratio of 21.85 and a beta of 1.05. The stock has a 50 day moving average of $8.61 and a 200 day moving average of $9.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. AFC Gamma has a twelve month low of $7.94 and a twelve month high of $13.28.

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 dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.10%. The ex-dividend date was Tuesday, December 31st. AFC Gamma's payout ratio is 330.00%.

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.