AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Down 5.6% in November

AFC Gamma, Inc. (NASDAQ:AFCG) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 480,100 shares, a drop of 5.6% from the November 15th total of 508,600 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 177,200 shares, the short-interest ratio is presently 2.7 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on AFCG. Jefferies Financial Group cut their price target on AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Alliance Global Partners began coverage on shares of AFC Gamma in a report on Tuesday. They issued a “buy” rating and a $13.00 target price on the stock. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.67.

Hedge Funds Weigh In On AFC Gamma

Several institutional investors and hedge funds have recently added to or reduced their stakes in AFCG. Tidal Investments LLC raised its holdings in AFC Gamma by 19.7% during the 3rd 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 during the last quarter. Ritholtz Wealth Management grew its holdings in AFC Gamma by 91.1% during the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock worth $621,000 after acquiring an additional 28,998 shares during the period. Centiva Capital LP bought a new position in shares of AFC Gamma in the 3rd quarter worth about $193,000. Spire Wealth Management lifted its stake in shares of 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 purchasing an additional 17,400 shares during the period. Finally, Barclays PLC boosted its position in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after purchasing an additional 16,245 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors and hedge funds.

AFC Gamma Stock Down 2.9 %

AFCG stock opened at $8.96 on Thursday. The firm has a 50-day moving average price of $9.71 and a 200-day moving average price of $10.21. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.35. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $196.70 million, a P/E ratio of 22.40 and a beta of 1.03.

AFC Gamma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 14.73%. The ex-dividend date is Tuesday, December 31st. AFC Gamma’s dividend payout ratio (DPR) 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.