Short Interest in AFC Gamma, Inc. (NASDAQ:AFCG) Decreases By 23.3%

AFC Gamma, Inc. (NASDAQ:AFCG) was the target of a significant decline in short interest in February. As of February 15th, there was short interest totalling 537,000 shares, a decline of 23.3% from the January 31st total of 700,500 shares. Based on an average daily volume of 182,500 shares, the days-to-cover ratio is currently 2.9 days. Approximately 3.0% of the shares of the stock are sold short.

AFC Gamma Price Performance

AFCG stock opened at $8.52 on Thursday. The company’s fifty day moving average price is $8.43 and its 200-day moving average price is $9.38. AFC Gamma has a one year low of $7.80 and a one year high of $13.28. The company has a market capitalization of $187.04 million, a PE ratio of 21.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.49%. AFC Gamma’s dividend payout ratio is currently 330.00%.

Institutional Investors Weigh In On AFC Gamma

Large investors have recently bought and sold shares of the business. Tidal Investments LLC grew its position in AFC Gamma by 19.7% in the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after acquiring an additional 85,655 shares in the last quarter. State Street Corp boosted its holdings in shares of AFC Gamma by 2.8% in the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares during the period. Penserra Capital Management LLC raised its holdings in AFC Gamma by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after buying an additional 14,570 shares during the period. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $515,000 after buying an additional 2,200 shares during the period. Finally, Geode Capital Management LLC lifted its position in AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after buying an additional 8,877 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Alliance Global Partners began coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective on the stock. JMP Securities restated a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Two 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.67.

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.