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

AFC Gamma, Inc. (NASDAQ:AFCG) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 593,500 shares, a decline of 8.5% from the February 29th total of 648,300 shares. Currently, 3.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 135,500 shares, the short-interest ratio is currently 4.4 days.

AFC Gamma Trading Down 2.6 %

Shares of AFCG stock opened at $12.06 on Tuesday. AFC Gamma has a 1 year low of $9.91 and a 1 year high of $14.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.87 and a quick ratio of 4.87. The stock’s 50 day simple moving average is $11.87 and its two-hundred day simple moving average is $11.77. The company has a market cap of $249.28 million, a PE ratio of 11.82 and a beta of 1.05.

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

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Sunday, March 31st will be paid a dividend of $0.48 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 15.92%. AFC Gamma’s dividend payout ratio is 188.24%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of AFC Gamma by 5.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,306 shares of the company’s stock valued at $3,279,000 after buying an additional 13,423 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in AFC Gamma by 19.2% in the third quarter. Nisa Investment Advisors LLC now owns 9,825 shares of the company’s stock worth $115,000 after purchasing an additional 1,582 shares in the last quarter. Cambria Investment Management L.P. grew its stake in AFC Gamma by 49.7% in the third quarter. Cambria Investment Management L.P. now owns 24,675 shares of the company’s stock worth $290,000 after purchasing an additional 8,190 shares in the last quarter. Jump Financial LLC bought a new position in AFC Gamma in the third quarter worth approximately $214,000. Finally, Los Angeles Capital Management LLC grew its stake in AFC Gamma by 77.8% in the third quarter. Los Angeles Capital Management LLC now owns 41,807 shares of the company’s stock worth $491,000 after purchasing an additional 18,290 shares in the last quarter. Institutional investors own 26.53% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet upgraded AFC Gamma from a “d+” rating to a “c-” rating in a research report on Tuesday, December 19th.

About AFC Gamma

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.