Short Interest in AFC Gamma, Inc. (NASDAQ:AFCG) Expands By 34.8%

AFC Gamma, Inc. (NASDAQ:AFCG) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 646,100 shares, a growth of 34.8% from the December 15th total of 479,400 shares. Currently, 3.7% of the shares of the stock are short sold. Based on an average trading volume of 174,300 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AFCG. Alliance Global Partners assumed coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price on the stock. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.67.

AFC Gamma Trading Up 2.1 %

Shares of AFCG stock opened at $8.62 on Friday. The stock’s fifty day simple moving average is $9.08 and its 200 day simple moving average is $9.68. AFC Gamma has a twelve month low of $8.06 and a twelve month high of $13.28. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $189.21 million, a P/E ratio of 21.55 and a beta of 1.05.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.33 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 15.31%. AFC Gamma’s dividend payout ratio is 330.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AFCG. Bank of New York Mellon Corp grew its position in shares of AFC Gamma by 15.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company’s stock valued at $924,000 after buying an additional 10,016 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of AFC Gamma by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after purchasing an additional 1,900 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in AFC Gamma by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock valued at $284,000 after buying an additional 1,071 shares during the period. Ritholtz Wealth Management boosted its position in 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 acquiring an additional 28,998 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in AFC Gamma during the 3rd quarter worth about $140,000. 26.53% of the stock is owned by institutional investors.

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.