AFC Gamma, Inc. (NASDAQ:AFCG) Sees Significant Increase in Short Interest

AFC Gamma, Inc. (NASDAQ:AFCG) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 626,500 shares, a growth of 5.6% from the March 15th total of 593,500 shares. Based on an average daily trading volume, of 125,100 shares, the short-interest ratio is currently 5.0 days. Currently, 4.0% of the company’s stock are short sold.

AFC Gamma Price Performance

NASDAQ:AFCG remained flat at $11.59 during mid-day trading on Tuesday. The company had a trading volume of 16,186 shares, compared to its average volume of 126,092. The stock has a market cap of $239.57 million, a P/E ratio of 11.36 and a beta of 1.05. AFC Gamma has a fifty-two week low of $9.91 and a fifty-two week high of $14.60. The business has a fifty day simple moving average of $11.88 and a 200 day simple moving average of $11.72. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.13.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. AFC Gamma had a return on equity of 12.10% and a net margin of 30.38%. The business had revenue of $15.97 million during the quarter, compared to the consensus estimate of $18.06 million. During the same period in the previous year, the firm posted $0.61 earnings per share. Sell-side analysts anticipate that AFC Gamma will post 1.93 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 16.57%. The ex-dividend date was Wednesday, March 27th. AFC Gamma’s dividend payout ratio is currently 188.24%.

Institutional Investors Weigh In On AFC Gamma

A number of large investors have recently bought and sold shares of AFCG. Money Concepts Capital Corp acquired a new position in AFC Gamma during the 4th quarter worth $31,000. Coppell Advisory Solutions Corp. acquired a new position in AFC Gamma in the fourth quarter worth about $38,000. Barclays PLC raised its position in AFC Gamma by 347.1% in the fourth quarter. Barclays PLC now owns 4,780 shares of the company’s stock worth $75,000 after purchasing an additional 3,711 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in AFC Gamma by 816.0% during the third quarter. Tower Research Capital LLC TRC now owns 4,818 shares of the company’s stock worth $57,000 after buying an additional 4,292 shares during the last quarter. Finally, Citigroup Inc. bought a new stake in AFC Gamma during the second quarter worth about $61,000. 26.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, TheStreet raised AFC Gamma from a “d+” rating to a “c-” rating in a report on Tuesday, December 19th.

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.