AFC Gamma, Inc. (NASDAQ:AFCG – Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 626,500 shares, a growth of 5.6% from the March 15th total of 593,500 shares. Currently, 4.0% of the shares of the company are sold short. Based on an average trading volume of 125,100 shares, the days-to-cover ratio is presently 5.0 days.
Institutional Investors Weigh In On AFC Gamma
Several hedge funds have recently modified their holdings of the business. Wasatch Advisors LP lifted its position in AFC Gamma by 86.3% in the fourth quarter. Wasatch Advisors LP now owns 573,915 shares of the company’s stock worth $6,904,000 after purchasing an additional 265,835 shares during the period. Vanguard Group Inc. lifted its position in AFC Gamma by 32.5% in the first quarter. Vanguard Group Inc. now owns 776,261 shares of the company’s stock worth $14,842,000 after purchasing an additional 190,609 shares during the period. BlackRock Inc. lifted its position in AFC Gamma by 19.4% in the third quarter. BlackRock Inc. now owns 951,785 shares of the company’s stock worth $14,562,000 after purchasing an additional 154,953 shares during the period. Renaissance Technologies LLC lifted its position in AFC Gamma by 147.9% in the first quarter. Renaissance Technologies LLC now owns 258,300 shares of the company’s stock worth $3,141,000 after purchasing an additional 154,100 shares during the period. Finally, Federated Hermes Inc. lifted its position in AFC Gamma by 12.5% in the first quarter. Federated Hermes Inc. now owns 900,000 shares of the company’s stock worth $17,208,000 after purchasing an additional 100,000 shares during the period. 26.53% of the stock is owned by institutional investors.
AFC Gamma Stock Down 1.5 %
AFCG opened at $11.35 on Thursday. AFC Gamma has a 1-year low of $9.91 and a 1-year high of $14.60. 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 stock has a market capitalization of $234.57 million, a price-to-earnings ratio of 11.13 and a beta of 1.05. The business has a 50 day moving average of $11.88 and a 200-day moving average of $11.72.
AFC Gamma Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were given a $0.48 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 16.92%. AFC Gamma’s dividend payout ratio is 188.24%.
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.
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