AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Down 5.6% in November

AFC Gamma, Inc. (NASDAQ:AFCG) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 480,100 shares, a drop of 5.6% from the November 15th total of 508,600 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily volume of 177,200 shares, the short-interest ratio is presently 2.7 days.

Institutional Trading of AFC Gamma

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC increased its position 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 worth $5,305,000 after purchasing an additional 85,655 shares during the last quarter. State Street Corp increased its holdings in AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after buying an additional 10,320 shares during the last quarter. Renaissance Technologies LLC raised its position in AFC Gamma by 1.4% during the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after acquiring an additional 1,900 shares in the last quarter. AdvisorShares Investments LLC lifted its stake in AFC Gamma by 14.7% in the second quarter. AdvisorShares Investments LLC now owns 124,606 shares of the company’s stock valued at $1,505,000 after acquiring an additional 16,000 shares during the last quarter. Finally, Penserra Capital Management LLC grew its position in shares of AFC Gamma by 22.9% in the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after acquiring an additional 14,570 shares during the period. Institutional investors own 26.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AFCG. Alliance Global Partners initiated coverage on shares of AFC Gamma in a research note on Tuesday. They set a “buy” rating and a $13.00 price objective on the stock. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group reduced their price objective on AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.67.

AFC Gamma Trading Down 2.9 %

NASDAQ:AFCG opened at $8.96 on Thursday. The business’s 50-day simple moving average is $9.71 and its 200-day simple moving average is $10.21. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.35. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. The stock has a market capitalization of $196.70 million, a PE ratio of 22.40 and a beta of 1.03.

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 14.73%. The ex-dividend date is Tuesday, December 31st. AFC Gamma’s payout ratio is 330.00%.

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.