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

AFC Gamma, Inc. (NASDAQ:AFCG) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 593,500 shares, a decrease of 8.5% from the February 29th total of 648,300 shares. Approximately 3.8% of the shares of the stock are sold short. Based on an average trading volume of 135,500 shares, the days-to-cover ratio is presently 4.4 days.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded AFC Gamma from a “d+” rating to a “c-” rating in a research note on Tuesday, December 19th.

Institutional Investors Weigh In On AFC Gamma

Several institutional investors and hedge funds have recently bought and sold shares of AFCG. Bank of New York Mellon Corp lifted its holdings in AFC Gamma by 20.5% in the 1st quarter. Bank of New York Mellon Corp now owns 43,307 shares of the company’s stock worth $828,000 after buying an additional 7,368 shares during the period. MetLife Investment Management LLC raised its position in shares of AFC Gamma by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 8,992 shares of the company’s stock worth $172,000 after acquiring an additional 3,206 shares in the last quarter. Rhumbline Advisers raised its position in shares of AFC Gamma by 42.8% in the 1st quarter. Rhumbline Advisers now owns 15,422 shares of the company’s stock worth $295,000 after acquiring an additional 4,620 shares in the last quarter. BlackRock Inc. raised its position in shares of AFC Gamma by 4.5% in the 1st quarter. BlackRock Inc. now owns 809,292 shares of the company’s stock worth $15,473,000 after acquiring an additional 34,958 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of AFC Gamma by 32.5% in the 1st quarter. Vanguard Group Inc. now owns 776,261 shares of the company’s stock worth $14,842,000 after acquiring an additional 190,609 shares in the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

AFC Gamma Price Performance

AFCG opened at $12.06 on Tuesday. The stock has a 50-day moving average price of $11.87 and a 200-day moving average price of $11.77. AFC Gamma has a 12-month low of $9.91 and a 12-month 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 $249.28 million, a P/E ratio of 11.82 and a beta of 1.05.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Thursday, March 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. The company had revenue of $15.97 million during the quarter, compared to analysts’ expectations of $18.06 million. AFC Gamma had a return on equity of 12.10% and a net margin of 30.38%. During the same period in the prior year, the business posted $0.61 EPS. Equities analysts predict that AFC Gamma will post 1.93 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Sunday, March 31st will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 15.92%. The ex-dividend date is Wednesday, March 27th. AFC Gamma’s dividend payout ratio (DPR) is currently 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.