AFC Gamma, Inc. (NASDAQ:AFCG – Get Rating) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 399,600 shares, an increase of 33.8% from the February 13th total of 298,600 shares. Based on an average trading volume of 146,100 shares, the short-interest ratio is currently 2.7 days. Approximately 2.5% of the company’s stock are short sold.
Wall Street Analysts Forecast Growth
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AFCG has been the subject of a number of research analyst reports. TD Cowen decreased their price objective on shares of AFC Gamma from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday. EF Hutton Acquisition Co. I decreased their price target on shares of AFC Gamma from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JMP Securities lowered their price objective on shares of AFC Gamma from $25.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Wednesday.
AFC Gamma Price Performance
Shares of NASDAQ:AFCG opened at $13.00 on Friday. The firm has a market cap of $266.37 million, a price-to-earnings ratio of 7.22 and a beta of 1.00. The business has a 50-day simple moving average of $15.69 and a two-hundred day simple moving average of $16.29. AFC Gamma has a fifty-two week low of $12.69 and a fifty-two week high of $20.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.41 and a current ratio of 4.90.
AFC Gamma (NASDAQ:AFCG – Get Rating) last posted its quarterly earnings data on Tuesday, March 7th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $21.43 million during the quarter, compared to analyst estimates of $18.40 million. AFC Gamma had a return on equity of 16.84% and a net margin of 44.09%.
AFC Gamma Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 17.23%. The ex-dividend date is Thursday, March 30th. AFC Gamma’s dividend payout ratio (DPR) is presently 124.45%.
Hedge Funds Weigh In On AFC Gamma
A number of hedge funds and other institutional investors have recently modified their holdings of AFCG. Coppell Advisory Solutions Corp. purchased a new position in AFC Gamma in the fourth quarter valued at $38,000. Money Concepts Capital Corp purchased a new stake in shares of AFC Gamma in the 4th quarter valued at $31,000. Morgan Stanley lifted its holdings in AFC Gamma by 2.6% during the 4th quarter. Morgan Stanley now owns 88,901 shares of the company’s stock worth $1,398,000 after buying an additional 2,280 shares in the last quarter. Vident Investment Advisory LLC boosted its stake in shares of AFC Gamma by 4.0% in the 4th quarter. Vident Investment Advisory LLC now owns 47,995 shares of the company’s stock valued at $755,000 after buying an additional 1,837 shares during the period. Finally, Penserra Capital Management LLC increased its holdings in AFC Gamma by 2.9% in the fourth quarter. Penserra Capital Management LLC now owns 113,642 shares of the company’s stock valued at $1,787,000 after buying an additional 3,194 shares during the last quarter. 36.90% of the stock is currently owned by institutional investors.
About AFC Gamma
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AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. 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.
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