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

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,270,000 shares, a growth of 22.1% from the March 31st total of 1,040,000 shares. Currently, 7.1% of the shares of the company are short sold. Based on an average daily volume of 229,700 shares, the short-interest ratio is currently 5.5 days.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group cut AFC Gamma from a "buy" rating to a "hold" rating and cut their price objective for the stock from $10.00 to $7.00 in a research report on Friday, March 14th. JMP Securities reiterated a "market perform" rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $9.67.

AFC Gamma Price Performance

NASDAQ:AFCG traded up $0.15 during mid-day trading on Thursday, hitting $5.48. 45,251 shares of the company's stock traded hands, compared to its average volume of 210,222. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The firm's 50 day simple moving average is $6.01 and its 200 day simple moving average is $7.97. AFC Gamma has a 1 year low of $4.34 and a 1 year high of $12.74. The company has a market cap of $123.83 million, a PE ratio of 13.70 and a beta of 1.19.

AFC Gamma Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.23 per share. The ex-dividend date was Monday, March 31st. AFC Gamma's dividend payout ratio (DPR) is 115.00%.

Insiders Place Their Bets

In related news, CEO Daniel Neville purchased 16,250 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were purchased at an average price of $6.32 per share, for a total transaction of $102,700.00. Following the transaction, the chief executive officer now directly owns 177,261 shares of the company's stock, valued at approximately $1,120,289.52. The trade was a 10.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leonard M. Tannenbaum acquired 32,007 shares of the firm's stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $6.52 per share, with a total value of $208,685.64. Following the completion of the transaction, the director now directly owns 3,909,876 shares in the company, valued at $25,492,391.52. This trade represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 146,606 shares of company stock valued at $930,691. Insiders own 26.80% of the company's stock.

Hedge Funds Weigh In On AFC Gamma

Several institutional investors have recently added to or reduced their stakes in AFCG. Martingale Asset Management L P grew its holdings in AFC Gamma by 24.1% in the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company's stock valued at $172,000 after purchasing an additional 4,005 shares during the period. Tidal Investments LLC grew its stake in shares of AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company's stock valued at $5,305,000 after buying an additional 85,655 shares during the period. Barclays PLC increased its holdings 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 buying an additional 16,245 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of AFC Gamma by 57.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock worth $248,000 after buying an additional 8,877 shares during the period. 26.53% of the stock is currently owned by institutional investors and hedge funds.

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.