AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Up 12.1% in August

AFC Gamma, Inc. (NASDAQ:AFCG) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 716,900 shares, an increase of 12.1% from the July 31st total of 639,500 shares. Based on an average daily trading volume, of 167,800 shares, the short-interest ratio is currently 4.3 days. Currently, 4.3% of the company’s stock are short sold.

Insider Buying and Selling

In other news, Chairman Leonard M. Tannenbaum bought 31,335 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of $12.09 per share, for a total transaction of $378,840.15. Following the completion of the transaction, the chairman now owns 3,775,973 shares of the company’s stock, valued at $45,651,513.57. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 26.20% of the stock is owned by insiders.

Institutional Investors Weigh In On AFC Gamma

A number of institutional investors have recently modified their holdings of AFCG. Tidal Investments LLC bought a new position in shares of AFC Gamma during the first quarter valued at $7,001,000. Wasatch Advisors LP increased its position in shares of AFC Gamma by 11.6% during the first quarter. Wasatch Advisors LP now owns 640,617 shares of the company’s stock valued at $7,931,000 after buying an additional 66,702 shares during the period. Quest Partners LLC purchased a new position in AFC Gamma in the 4th quarter worth approximately $87,000. Jump Financial LLC boosted its position in AFC Gamma by 20.3% during the fourth quarter. Jump Financial LLC now owns 21,900 shares of the company’s stock valued at $263,000 after buying an additional 3,700 shares during the period. Finally, Spire Wealth Management bought a new position in AFC Gamma during the 4th quarter valued at approximately $65,000. Institutional investors own 26.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a report on Thursday, June 27th. Compass Point upgraded AFC Gamma from a “sell” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $9.00 in a report on Friday, August 16th.

AFC Gamma Price Performance

Shares of NASDAQ:AFCG opened at $10.46 on Tuesday. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.11. AFC Gamma has a twelve month low of $8.06 and a twelve month high of $13.66. The business has a 50 day moving average price of $10.05 and a 200 day moving average price of $11.34. The company has a market cap of $216.18 million, a price-to-earnings ratio of 20.12 and a beta of 1.03.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. The business had revenue of $19.96 million for the quarter, compared to analyst estimates of $16.48 million. Research analysts predict that AFC Gamma will post 2 earnings per share for the current year.

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 8th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.92 dividend on an annualized basis and a yield of 18.36%. AFC Gamma’s dividend payout ratio (DPR) is 369.23%.

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.