AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Update
AFC Gamma, Inc. (NASDAQ:AFCG) experienced a significant decrease in short interest in August, dropping 20.4% to 571,000 shares. Currently, 3.5% of the stock is short sold, with a short-interest ratio of 3.3 days based on an average daily volume of 175,000 shares. The company recently declared a quarterly dividend of $0.33, with an annualized yield of 12.77%. Institutional investors hold 26.53% of the stock, and analysts have mixed ratings on the company, with some expecting growth in earnings for the current fiscal year.
AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 571,000 shares, a decrease of 20.4% from the August 15th total of 716,900 shares. Based on an average daily trading volume, of 175,000 shares, the days-to-cover ratio is presently 3.3 days. Approximately 3.5% of the company's stock are short sold.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on AFCG shares. JMP Securities restated a "market perform" rating on shares of AFC Gamma in a report on Thursday, June 27th. Compass Point upgraded AFC Gamma from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $10.00 to $9.00 in a report on Friday, August 16th. Finally, Jefferies Financial Group reduced their price objective on AFC Gamma from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Tuesday, September 3rd.
Read Our Latest Stock Report on AFCG
AFC Gamma Stock Performance
Shares of AFCG stock opened at $10.34 on Friday. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.35. The company's fifty day simple moving average is $9.73 and its 200-day simple moving average is $11.27. The firm has a market cap of $213.73 million, a PE ratio of 19.88 and a beta of 1.05. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.11.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.05. The company had revenue of $19.96 million during the quarter, compared to the consensus estimate of $16.48 million. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. Equities research analysts expect that AFC Gamma will post 2 EPS for the current fiscal year.
AFC Gamma Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.33 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 12.77%. AFC Gamma's dividend payout ratio is 369.24%.
Institutional Investors Weigh In On AFC Gamma
A number of institutional investors and hedge funds have recently made changes to their positions in AFCG. Tidal Investments LLC bought a new position in shares of AFC Gamma in the first quarter valued at $7,001,000. Wasatch Advisors LP grew its position in shares of AFC Gamma by 86.3% in the 4th quarter. Wasatch Advisors LP now owns 573,915 shares of the company's stock valued at $6,904,000 after acquiring an additional 265,835 shares during the period. Anson Funds Management LP acquired a new position in shares of AFC Gamma during the 1st quarter worth about $319,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of AFC Gamma by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company's stock valued at $3,519,000 after purchasing an additional 24,506 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in AFC Gamma by 88.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 46,806 shares of the company's stock valued at $579,000 after purchasing an additional 21,915 shares during the last quarter. Institutional investors own 26.53% of the company's stock.
AFC Gamma Company Profile
(Get Free Report)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.
See Also
- Five stocks we like better than AFC Gamma
- Quiet Period Expirations Explained
- Symbotic’s Double-Bagger Potential as It Hits a Key Inflection
- What Investors Need to Know to Beat the Market
- High Dividend Yields Make These 2 Shipping Stocks Stand Out
- How to Invest in the FAANG Stocks
- Can Celsius Stock Rebound? Analysts See 74% Upside Potential
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
→ War on Elon Escalates… (From Porter & Company) (Ad)
Should you invest $1,000 in AFC Gamma right now?
Before you consider AFC Gamma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AFC Gamma wasn't on the list.
While AFC Gamma currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
