AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Up 69.0% in January

AFC Gamma, Inc. (NASDAQ:AFCG) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 700,500 shares, a growth of 69.0% from the January 15th total of 414,400 shares. Based on an average trading volume of 177,200 shares, the days-to-cover ratio is presently 4.0 days. Currently, 4.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AFCG. The Manufacturers Life Insurance Company increased its position in shares of 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 in the last quarter. Ritholtz Wealth Management increased its position in shares of AFC Gamma by 91.1% in the third 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 in the last quarter. GSA Capital Partners LLP purchased a new position in shares of AFC Gamma in the third quarter valued at $140,000. Charles Schwab Investment Management Inc. increased its position in AFC Gamma by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Penserra Capital Management LLC increased its position in AFC Gamma by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after purchasing an additional 14,570 shares in the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Alliance Global Partners assumed coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.67.

AFC Gamma Trading Up 0.2 %

Shares of AFCG stock opened at $8.74 on Friday. AFC Gamma has a fifty-two week low of $7.94 and a fifty-two week high of $13.28. The stock has a market cap of $191.84 million, a P/E ratio of 21.85 and a beta of 1.05. The business has a fifty day simple moving average of $8.61 and a 200-day simple moving average of $9.46. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.10%. The ex-dividend date was Tuesday, December 31st. AFC Gamma’s dividend 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.