Short Interest in AFC Gamma, Inc. (NASDAQ:AFCG) Declines By 35.9%

AFC Gamma, Inc. (NASDAQ:AFCG) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 414,400 shares, a decrease of 35.9% from the December 31st total of 646,100 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average trading volume of 176,900 shares, the short-interest ratio is currently 2.3 days.

AFC Gamma Stock Performance

Shares of NASDAQ AFCG traded down $0.03 during trading on Friday, reaching $8.14. 83,310 shares of the company traded hands, compared to its average volume of 167,616. The firm’s fifty day simple moving average is $8.83 and its 200 day simple moving average is $9.51. The stock has a market cap of $178.67 million, a P/E ratio of 20.35 and a beta of 1.05. AFC Gamma has a 12-month low of $7.94 and a 12-month high of $13.28. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 16.22%. The ex-dividend date was Tuesday, December 31st. AFC Gamma’s dividend payout ratio (DPR) is presently 330.00%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AFCG shares. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Alliance Global Partners began coverage on AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. 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.com, AFC Gamma currently has an average rating of “Moderate Buy” and an average target price of $11.67.

Institutional Investors Weigh In On AFC Gamma

A number of institutional investors have recently modified their holdings of AFCG. McIlrath & Eck LLC acquired a new stake in AFC Gamma in the 3rd quarter worth about $52,000. GSA Capital Partners LLP acquired a new stake in AFC Gamma in the 3rd quarter worth about $140,000. Centiva Capital LP acquired a new stake in AFC Gamma in the 3rd quarter worth about $193,000. Barclays PLC boosted 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 buying an additional 16,245 shares during the last quarter. Finally, Geode Capital Management LLC boosted 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 buying an additional 8,877 shares during the last quarter. 26.53% of the stock is currently owned by institutional investors and hedge funds.

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.