AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Update

AFC Gamma, Inc. (NASDAQ:AFCG) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 508,600 shares, an increase of 10.1% from the October 31st total of 462,000 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily volume of 177,600 shares, the short-interest ratio is presently 2.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in shares of AFC Gamma by 15.2% during the second quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company’s stock valued at $924,000 after purchasing an additional 10,016 shares during the period. Spire Wealth Management lifted its position in AFC Gamma by 141.5% in the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock valued at $362,000 after acquiring an additional 17,400 shares in the last quarter. Ritholtz Wealth Management boosted its stake in AFC Gamma by 51.1% during the 2nd quarter. Ritholtz Wealth Management now owns 31,822 shares of the company’s stock valued at $388,000 after purchasing an additional 10,758 shares during the last quarter. AdvisorShares Investments LLC increased its holdings in AFC Gamma by 14.7% during the 2nd quarter. AdvisorShares Investments LLC now owns 124,606 shares of the company’s stock worth $1,505,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of AFC Gamma by 1.4% in the second 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 last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

AFC Gamma Trading Down 0.1 %

Shares of NASDAQ:AFCG traded down $0.01 during midday trading on Wednesday, reaching $9.61. The company’s stock had a trading volume of 80,180 shares, compared to its average volume of 148,145. The firm has a 50 day moving average price of $9.86 and a two-hundred day moving average price of $10.41. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.35. The firm has a market capitalization of $210.94 million, a price-to-earnings ratio of 23.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92.

AFC Gamma Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 13.74%. The ex-dividend date was Monday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is 330.00%.

Wall Street Analysts Forecast Growth

AFCG has been the topic of a number of research reports. Jefferies Financial Group reduced their target price on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Compass Point raised AFC Gamma from a “sell” rating to a “neutral” rating and decreased their price target for the company from $10.00 to $9.00 in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

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.