AFC Gamma, Inc. (NASDAQ:AFCG) Sees Large Increase in Short Interest

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

Wall Street Analysts Forecast Growth

Separately, TheStreet raised AFC Gamma from a "d+" rating to a "c-" rating in a report on Tuesday, December 19th.

AFC Gamma Trading Down 0.6 %

Shares of NASDAQ:AFCG traded down $0.07 during midday trading on Tuesday, reaching $11.52. The company's stock had a trading volume of 58,117 shares, compared to its average volume of 126,715. The firm has a market capitalization of $238.12 million, a price-to-earnings ratio of 11.29 and a beta of 1.05. 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 firm has a 50 day moving average price of $11.88 and a two-hundred day moving average price of $11.72. AFC Gamma has a fifty-two week low of $9.91 and a fifty-two week high of $14.60.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.01. The company had revenue of $15.97 million for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.61 EPS. As a group, analysts forecast that AFC Gamma will post 1.93 earnings per share for the current year.

AFC Gamma Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in AFC Gamma by 9.2% during the 2nd quarter. BlackRock Inc. now owns 1,320,864 shares of the company's stock worth $16,445,000 after buying an additional 110,755 shares during the period. Federated Hermes Inc. raised its stake in AFC Gamma by 12.5% during the 1st quarter. Federated Hermes Inc. now owns 900,000 shares of the company's stock worth $17,208,000 after buying an additional 100,000 shares during the period. Vanguard Group Inc. raised its stake in AFC Gamma by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 883,291 shares of the company's stock worth $10,626,000 after buying an additional 27,464 shares during the period. Wasatch Advisors LP raised its stake in AFC Gamma by 86.3% during the 4th quarter. Wasatch Advisors LP now owns 573,915 shares of the company's stock worth $6,904,000 after buying an additional 265,835 shares during the period. Finally, Wasatch Advisors Inc. raised its stake in AFC Gamma by 7.8% during the 1st quarter. Wasatch Advisors Inc. now owns 566,335 shares of the company's stock worth $10,828,000 after buying an additional 40,915 shares during the period. 26.53% of the stock is owned by institutional investors and hedge funds.

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.