Short Interest in AFC Gamma, Inc. (NASDAQ:AFCG) Declines By 5.6%

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 480,100 shares, a decline of 5.6% from the November 15th total of 508,600 shares. Based on an average daily trading volume, of 177,200 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AFCG. Seaport Res Ptn upgraded AFC Gamma to a "strong-buy" rating in a research note on Tuesday, October 8th. Alliance Global Partners began coverage on AFC Gamma in a research report on Tuesday. They issued a "buy" rating and a $13.00 price objective on the stock. Finally, Jefferies Financial Group reduced their price objective on AFC Gamma from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.67.

Institutional Investors Weigh In On AFC Gamma

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

AFC Gamma Trading Down 0.8 %

NASDAQ AFCG traded down $0.07 during trading hours on Tuesday, hitting $9.23. 164,167 shares of the company's stock were exchanged, compared to its average volume of 148,493. The business's 50 day moving average is $9.72 and its 200-day moving average is $10.22. The firm has a market capitalization of $202.63 million, a P/E ratio of 23.08 and a beta of 1.03. 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 12-month low of $8.06 and a 12-month high of $13.35.

AFC Gamma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.33 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.30%. AFC Gamma's dividend payout ratio (DPR) is 330.00%.

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.