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

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 414,400 shares, a drop of 35.9% from the December 31st total of 646,100 shares. Based on an average trading volume of 176,900 shares, the days-to-cover ratio is presently 2.3 days. Currently, 2.4% of the company's shares are sold short.

AFC Gamma Stock Up 0.6 %

NASDAQ:AFCG traded up $0.05 during mid-day trading on Monday, hitting $8.19. 114,366 shares of the company's stock were exchanged, compared to its average volume of 175,146. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. The business has a fifty day moving average price of $8.83 and a 200 day moving average price of $9.51. AFC Gamma has a one year low of $7.94 and a one year high of $13.28. The company has a market cap of $179.77 million, a PE ratio of 20.48 and a beta of 1.05.

AFC Gamma Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 16.12%. The ex-dividend date of this dividend was Tuesday, December 31st. AFC Gamma's dividend payout ratio (DPR) is 330.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AFCG. JMP Securities reissued a "market perform" rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Seaport Res Ptn raised shares of AFC Gamma to a "strong-buy" rating in a research report on Tuesday, October 8th. Finally, Alliance Global Partners began coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a "buy" rating and a $13.00 price objective on the stock. Two 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. According to MarketBeat.com, AFC Gamma currently has an average rating of "Moderate Buy" and an average price target of $11.67.

Institutional Trading of AFC Gamma

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its position in AFC Gamma by 19.7% in 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. Ritholtz Wealth Management lifted its holdings in shares of AFC Gamma by 91.1% during the third quarter. Ritholtz Wealth Management now owns 60,820 shares of the company's stock valued at $621,000 after purchasing an additional 28,998 shares in the last quarter. Centiva Capital LP bought a new position in shares of AFC Gamma during the third quarter valued at $193,000. Barclays PLC boosted its position in shares of AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company's stock valued at $231,000 after buying an additional 16,245 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in AFC Gamma by 22.9% in the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company's stock worth $799,000 after buying an additional 14,570 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors.

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.