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

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) was the recipient of a significant 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. Based on an average trading volume of 229,700 shares, the days-to-cover ratio is currently 5.5 days. Approximately 7.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AFCG. JMP Securities restated a "market perform" rating on shares of AFC Gamma in a report on Thursday, January 23rd. Jefferies Financial Group lowered shares of AFC Gamma from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $10.00 to $7.00 in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, AFC Gamma currently has an average rating of "Moderate Buy" and an average price target of $9.67.

AFC Gamma Trading Down 7.0 %

NASDAQ AFCG traded down $0.40 during trading on Tuesday, hitting $5.32. The stock had a trading volume of 154,152 shares, compared to its average volume of 184,633. AFC Gamma has a twelve month low of $4.34 and a twelve month high of $12.74. The firm has a 50 day moving average price of $6.07 and a 200 day moving average price of $7.99. The company has a market capitalization of $120.21 million, a PE ratio of 13.30 and a beta of 1.19. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Dividend Announcement

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

Insider Buying and Selling

In other news, Director Leonard M. Tannenbaum purchased 50,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $6.20 per share, for a total transaction of $310,000.00. Following the acquisition, the director now directly owns 3,959,876 shares of the company's stock, valued at approximately $24,551,231.20. This represents a 1.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Neville acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was acquired at an average price of $6.15 per share, for a total transaction of $30,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 187,261 shares of the company's stock, valued at $1,151,655.15. The trade was a 2.74 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 146,606 shares of company stock worth $930,691. 26.80% of the stock is owned by insiders.

Institutional Investors Weigh In On AFC Gamma

A number of hedge funds have recently bought and sold shares of AFCG. Martingale Asset Management L P raised 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 acquiring an additional 4,005 shares in the last quarter. Barclays PLC raised its holdings in shares of AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company's stock valued at $231,000 after purchasing an additional 16,245 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock worth $248,000 after purchasing an additional 8,877 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in AFC Gamma by 19.7% in the third 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 last quarter. Institutional investors and hedge funds own 26.53% of the company's stock.

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.