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 the month of 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 daily trading volume, of 177,200 shares, the short-interest ratio is presently 4.0 days. Approximately 4.0% of the company’s stock are short sold.

AFC Gamma Price Performance

AFCG stock opened at $8.74 on Friday. The company has a market capitalization of $191.84 million, a P/E ratio of 21.85 and a beta of 1.05. AFC Gamma has a twelve month low of $7.94 and a twelve month high of $13.28. The business has a 50 day simple moving average of $8.61 and a 200-day simple moving average of $9.46. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 15.10%. The ex-dividend date was Tuesday, December 31st. AFC Gamma’s payout ratio is currently 330.00%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AFCG. Alliance Global Partners initiated coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Institutional Investors Weigh In On AFC Gamma

Several large investors have recently modified their holdings of AFCG. McIlrath & Eck LLC acquired a new stake in shares of AFC Gamma in the third quarter valued at approximately $52,000. GSA Capital Partners LLP acquired a new stake in shares of AFC Gamma in the third quarter valued at approximately $140,000. Martingale Asset Management L P boosted its holdings in shares of AFC Gamma by 24.1% in the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock valued at $172,000 after acquiring an additional 4,005 shares during the period. Centiva Capital LP acquired a new stake in shares of AFC Gamma during the third quarter worth $193,000. Finally, Barclays PLC lifted its holdings in shares of AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares during the period. 26.53% of the stock is owned by institutional investors and hedge funds.

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.