Short Interest in AFC Gamma, Inc. (NASDAQ:AFCG) Expands By 5.6%

AFC Gamma, Inc. (NASDAQ:AFCG) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 626,500 shares, an increase of 5.6% from the March 15th total of 593,500 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average daily volume of 125,100 shares, the short-interest ratio is presently 5.0 days.

Hedge Funds Weigh In On AFC Gamma

Several institutional investors have recently modified their holdings of AFCG. Wasatch Advisors LP grew its position in shares of AFC Gamma by 86.3% during the fourth quarter. Wasatch Advisors LP now owns 573,915 shares of the company’s stock worth $6,904,000 after acquiring an additional 265,835 shares during the last quarter. Vanguard Group Inc. grew its position in shares of AFC Gamma by 32.5% during the first quarter. Vanguard Group Inc. now owns 776,261 shares of the company’s stock worth $14,842,000 after acquiring an additional 190,609 shares during the last quarter. BlackRock Inc. grew its position in shares of AFC Gamma by 19.4% during the third quarter. BlackRock Inc. now owns 951,785 shares of the company’s stock worth $14,562,000 after acquiring an additional 154,953 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of AFC Gamma by 147.9% during the first quarter. Renaissance Technologies LLC now owns 258,300 shares of the company’s stock worth $3,141,000 after acquiring an additional 154,100 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of AFC Gamma by 12.5% during the first quarter. Federated Hermes Inc. now owns 900,000 shares of the company’s stock worth $17,208,000 after acquiring an additional 100,000 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

AFC Gamma Stock Down 1.5 %

AFCG stock opened at $11.35 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.87 and a quick ratio of 4.87. AFC Gamma has a 1-year low of $9.91 and a 1-year high of $14.60. The firm has a fifty day moving average price of $11.88 and a two-hundred day moving average price of $11.72. The firm has a market cap of $234.57 million, a price-to-earnings ratio of 11.13 and a beta of 1.05.

AFC Gamma (NASDAQ:AFCG) last released its earnings results on Thursday, March 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. AFC Gamma had a net margin of 30.38% and a return on equity of 12.10%. The firm had revenue of $15.97 million during the quarter, compared to analyst estimates of $18.06 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Research analysts predict that AFC Gamma will post 1.93 EPS for the current year.

AFC Gamma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 16.92%. AFC Gamma’s dividend payout ratio is currently 188.24%.

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.