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

AFC Gamma Inc. (NASDAQ:AFCG) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 1,745,983 shares, a drop of 16.4% from the February 26th total of 2,088,848 shares. Approximately 9.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 307,330 shares, the short-interest ratio is presently 5.7 days.

Insider Buying and Selling at AFC Gamma

In other news, Director Leonard M. Tannenbaum bought 115,237 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average price of $2.55 per share, for a total transaction of $293,854.35. Following the transaction, the director directly owned 6,313,826 shares of the company’s stock, valued at $16,100,256.30. This represents a 1.86% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders bought 512,008 shares of company stock worth $1,311,988. Company insiders own 25.10% of the company’s stock.

AFC Gamma Price Performance

Shares of AFC Gamma stock opened at $2.66 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45. AFC Gamma has a one year low of $2.06 and a one year high of $6.38. The business’s 50 day simple moving average is $2.42 and its two-hundred day simple moving average is $2.98. The stock has a market capitalization of $62.59 million, a P/E ratio of -2.80 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.18). AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%.The firm had revenue of $8.71 million during the quarter, compared to the consensus estimate of $5.36 million. Analysts forecast that AFC Gamma will post 1.64 EPS for the current year.

AFC Gamma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is -55.79%.

Analyst Ratings Changes

AFCG has been the topic of several research reports. Zacks Research downgraded shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Sell” and an average target price of $4.50.

About AFC Gamma

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.