AFC Gamma, Inc. (NASDAQ:AFCG) Short interest fell 8.6% in June

AFC Gamma, Inc. ( NASDAQ:AFCG – Get Free Report ) saw a big decline in short interest in June. As of June 15, short interest was 653,400 shares, down 8.6% from the May 31 total of 714,700 shares. Short sales concern approximately 4.0% of the company’s shares. With an average daily trading volume of 114,600 shares, the short interest rate is currently 5.7 days.

Changes in analyst ratings

AFCG has been the subject of numerous analyst reports. Compass Point downgraded AFC Gamma from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock. in a research note on Tuesday, May 28. In a research note on Thursday, JMP Securities maintained a “market” rating on AFC Gamma shares.

Check out our latest stock analysis on AFC Gamma

Internal activity

In other AFC Gamma news, CEO Leonard M. Tannenbaum purchased 31,335 shares of the company’s stock in a transaction dated Wednesday, June 5. The shares were purchased at an average price of $12.09 per share, for a total transaction amount of $378,840.15. Following the acquisition, the CEO now owns 3,775,973 shares of the company’s stock, valued at approximately $45,651,513.57. The purchase was disclosed in a filing with the SEC, available at this link. Company insiders own 26.20% of the company’s shares.

Hedge funds play on AFC Gamma

Several hedge funds and other institutional investors recently bought and sold shares. Tower Research Capital LLC TRC increased its holdings in AFC Gamma by 45.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,030 shares of the company’s stock worth $85,000 after acquiring an additional 2,212 shares during the period. Jump Financial LLC increased its position in AFC Gamma by 20.3% in the 4th quarter. Jump Financial LLC now owns 21,900 shares of the company’s stock worth $263,000 after acquiring an additional 3,700 shares in the last quarter. Empowered Funds LLC increased its position in AFC Gamma by 8.1% in the 1st quarter. Empowered Funds LLC now owns 51,324 shares of the company’s stock worth $635,000 after purchasing an additional 3,850 shares in the last quarter. AXS Investments LLC increased its position in shares of AFC Gamma by 4.8% during the fourth quarter. AXS Investments LLC now owns 83,873 shares of the company’s stock worth $1,009,000 after purchasing an additional 3,869 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in shares of AFC Gamma by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 18,300 shares of the company’s stock worth $220,000 after purchasing an additional 5,300 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

AFC Gamma stock performance

Shares of AFC Gamma opened on Monday at $12.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.86 and a liquidity ratio of 4.86. The stock has a market capitalization of $252.17 million, a price-to-earnings ratio of 23.46 and a beta of 1.01. The company’s 50 day moving average is $12.12 and its 200 day moving average is $12.01. AFC Gamma has a yearly low of $10.41 and a yearly high of $14.60.

AFC Gamma (NASDAQ:AFCG – Get Free Report) last released its earnings results on Thursday, May 9. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $16.36 million for the quarter, compared to the consensus estimate of $18.50 million. AFC Gamma had a net margin of 16.27% and a return on equity of 11.77%. Sell-side analysts are predicting that AFC Gamma will post 1.92 EPS for the current fiscal year.

AFC Gamma announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15. Shareholders of record on Monday, July 8 will receive a dividend of $0.48 per share. This represents an annual dividend of $1.92 and a yield of 15.74%. The ex-dividend date for this dividend is Monday, July 8. AFC Gamma’s dividend payout ratio is currently 369.24%.

About AFC Gamma

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AFC Gamma, Inc originates, structures, underwrites and invests in senior secured loans and other miscellaneous commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily obtains loans structured as senior loans secured by the real estate, equipment and licenses and/or other assets of the loan parties, to the extent permitted by applicable laws and regulations governing such loan parties.

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