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

AFC Gamma, Inc. (NASDAQ:AFCG) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 462,000 shares, a growth of 7.4% from the October 15th total of 430,000 shares. Based on an average trading volume of 175,300 shares, the short-interest ratio is presently 2.6 days. Approximately 2.8% of the company’s stock are short sold.

Institutional Trading of AFC Gamma

Hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in shares of AFC Gamma during the 3rd quarter worth about $140,000. Centiva Capital LP acquired a new stake in shares of AFC Gamma during the 3rd quarter worth about $193,000. Barclays PLC increased its position in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after purchasing an additional 8,877 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of AFC Gamma by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after purchasing an additional 1,071 shares in the last quarter. 26.53% of the stock is owned by institutional investors.

AFC Gamma Price Performance

Shares of AFC Gamma stock opened at $9.65 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 4.77. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.35. The firm has a fifty day moving average price of $10.04 and a two-hundred day moving average price of $10.62. The company has a market cap of $211.82 million, a PE ratio of 24.13 and a beta of 1.05.

AFC Gamma Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 13.68%. The ex-dividend date was Monday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is presently 330.00%.

Analyst Ratings Changes

Several research firms have commented on AFCG. Jefferies Financial Group decreased their target price on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Compass Point upgraded shares of AFC Gamma from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $9.00 in a research note on Friday, August 16th. Finally, Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.

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.