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

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 537,000 shares, a decrease of 23.3% from the January 31st total of 700,500 shares. Based on an average daily volume of 182,500 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.0% of the shares of the company are short sold.

AFC Gamma Price Performance

AFCG stock traded up $0.01 on Friday, reaching $8.41. 83,126 shares of the company's stock were exchanged, compared to its average volume of 161,478. The stock has a fifty day moving average of $8.42 and a 200-day moving average of $9.37. The firm has a market cap of $184.62 million, a PE ratio of 21.03 and a beta of 1.03. 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 has a twelve month low of $7.80 and a twelve month high of $13.28.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.70%. AFC Gamma's dividend payout ratio is presently 330.00%.

Institutional Trading of AFC Gamma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC increased its holdings in AFC Gamma by 19.7% in the third quarter. Tidal Investments LLC now owns 519,610 shares of the company's stock valued at $5,305,000 after buying an additional 85,655 shares in the last quarter. State Street Corp increased its stake in AFC Gamma by 2.8% in the 3rd quarter. State Street Corp now owns 376,611 shares of the company's stock valued at $3,968,000 after purchasing an additional 10,320 shares in the last quarter. Penserra Capital Management LLC increased its stake in AFC Gamma by 22.9% in the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company's stock valued at $799,000 after purchasing an additional 14,570 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AFC Gamma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company's stock worth $515,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock worth $248,000 after purchasing an additional 8,877 shares in the last quarter. Institutional investors and hedge funds own 26.53% of the company's stock.

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Analysts Set New Price Targets

A number of research firms recently weighed in on AFCG. JMP Securities reiterated 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 on the stock. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.