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

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

Institutional Trading of AFC Gamma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its holdings in AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after purchasing an additional 85,655 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of AFC Gamma by 91.1% in the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after buying an additional 28,998 shares during the last quarter. Centiva Capital LP acquired a new stake in AFC Gamma during the 3rd quarter worth $193,000. Barclays PLC lifted its position in AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after acquiring an additional 16,245 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in AFC Gamma by 22.9% in the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after acquiring an additional 14,570 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AFCG. Alliance Global Partners began coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Finally, Seaport Res Ptn upgraded AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AFC Gamma currently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

AFC Gamma Stock Down 0.9 %

Shares of AFC Gamma stock opened at $8.13 on Thursday. AFC Gamma has a 52-week low of $7.94 and a 52-week high of $13.28. The company has a 50 day moving average of $8.89 and a 200 day moving average of $9.53. 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 company has a market capitalization of $178.45 million, a P/E ratio of 20.33 and a beta of 1.05.

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 16.24%. AFC Gamma’s payout ratio is currently 330.00%.

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.