AFC Gamma, Inc. (NASDAQ:AFCG) Sees Large Growth in Short Interest

AFC Gamma, Inc. (NASDAQ:AFCG) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 626,500 shares, an increase of 5.6% from the March 15th total of 593,500 shares. Based on an average daily volume of 125,100 shares, the short-interest ratio is presently 5.0 days. Approximately 4.0% of the shares of the stock are short sold.

AFC Gamma Stock Performance

Shares of AFC Gamma stock remained flat at $11.59 during trading hours on Tuesday. The stock had a trading volume of 16,186 shares, compared to its average volume of 126,092. AFC Gamma has a 1-year low of $9.91 and a 1-year high of $14.60. The firm has a 50-day moving average of $11.88 and a two-hundred day moving average of $11.72. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $239.57 million, a price-to-earnings ratio of 11.36 and a beta of 1.05.

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

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Sunday, March 31st were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 16.57%. The ex-dividend date of this dividend was Wednesday, March 27th. AFC Gamma’s dividend payout ratio (DPR) is presently 188.24%.

Hedge Funds Weigh In On AFC Gamma

Large investors have recently bought and sold shares of the stock. Money Concepts Capital Corp acquired a new stake in shares of AFC Gamma during the fourth quarter worth about $31,000. Coppell Advisory Solutions Corp. acquired a new stake in AFC Gamma in the fourth quarter valued at about $38,000. Tower Research Capital LLC TRC lifted its position in AFC Gamma by 816.0% in the third quarter. Tower Research Capital LLC TRC now owns 4,818 shares of the company’s stock valued at $57,000 after purchasing an additional 4,292 shares during the period. Citigroup Inc. acquired a new stake in AFC Gamma in the second quarter valued at about $61,000. Finally, Spire Wealth Management acquired a new stake in AFC Gamma in the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 26.53% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded AFC Gamma from a “d+” rating to a “c-” rating in a 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.