AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Up 5.6% in March

AFC Gamma, Inc. (NASDAQ:AFCG) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 626,500 shares, an increase of 5.6% from the March 15th total of 593,500 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average daily trading volume, of 125,100 shares, the days-to-cover ratio is presently 5.0 days.

Institutional Trading of AFC Gamma

Several hedge funds have recently made changes to their positions in AFCG. Money Concepts Capital Corp acquired a new stake in AFC Gamma in the fourth quarter valued at approximately $31,000. Coppell Advisory Solutions Corp. acquired a new stake in AFC Gamma in the fourth quarter valued at approximately $38,000. Tower Research Capital LLC TRC raised its holdings in AFC Gamma by 816.0% in the third quarter. Tower Research Capital LLC TRC now owns 4,818 shares of the company’s stock valued at $57,000 after acquiring an additional 4,292 shares in the last quarter. Citigroup Inc. acquired a new stake in AFC Gamma in the second quarter valued at approximately $61,000. Finally, Spire Wealth Management acquired a new stake in AFC Gamma in the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 26.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

AFC Gamma Stock Down 0.6 %

Shares of AFCG opened at $11.52 on Wednesday. The stock has a market capitalization of $238.12 million, a PE ratio of 11.29 and a beta of 1.05. AFC Gamma has a 1 year low of $9.91 and a 1 year high of $14.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.87 and a current ratio of 4.87. The company’s 50-day simple moving average is $11.88 and its 200-day simple moving average is $11.72.

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

AFC Gamma Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 16.67%. AFC Gamma’s dividend payout ratio is presently 188.24%.

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.