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AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Up 9.6% in August

Defense World · Sep 19, 2022 03:41

AFC Gamma, Inc. (NASDAQ:AFCG – Get Rating) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 280,500 shares, an increase of 9.6% from the August 15th total of 256,000 shares. Based on an average trading volume of 160,100 shares, the days-to-cover ratio is currently 1.8 days. Currently, 2.0% of the shares of the stock are sold short.

AFC Gamma Stock Down 4.2 %

NASDAQ:AFCG opened at $16.63 on Monday. The firm has a market cap of $330.24 million, a PE ratio of 8.36 and a beta of 1.06. AFC Gamma has a 12 month low of $14.90 and a 12 month high of $25.50. The company's 50-day moving average price is $17.05 and its two-hundred day moving average price is $17.38.

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AFC Gamma (NASDAQ:AFCG – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The firm had revenue of $21.65 million for the quarter, compared to analyst estimates of $18.00 million. AFC Gamma had a net margin of 56.14% and a return on equity of 13.48%. During the same period in the previous year, the business earned $0.43 earnings per share. On average, research analysts expect that AFC Gamma will post 2.6 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 13.47%. AFC Gamma's payout ratio is 112.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TheStreet raised shares of AFC Gamma from a "d+" rating to a "c-" rating in a research note on Monday, September 12th. Cowen upped their target price on shares of AFC Gamma to $22.00 in a research note on Monday, August 15th.

Hedge Funds Weigh In On AFC Gamma

Large investors have recently bought and sold shares of the business. Strs Ohio grew its position in AFC Gamma by 20.7% in the first quarter. Strs Ohio now owns 3,500 shares of the company's stock valued at $66,000 after purchasing an additional 600 shares in the last quarter. American International Group Inc. grew its holdings in shares of AFC Gamma by 12.5% during the 1st quarter. American International Group Inc. now owns 7,418 shares of the company's stock valued at $142,000 after purchasing an additional 826 shares during the last quarter. RMB Capital Management LLC boosted its position in AFC Gamma by 1.3% during the 2nd quarter. RMB Capital Management LLC now owns 79,265 shares of the company's stock worth $1,215,000 after buying an additional 1,000 shares during the period. California State Teachers Retirement System boosted its position in AFC Gamma by 18.7% during the 1st quarter. California State Teachers Retirement System now owns 6,425 shares of the company's stock worth $123,000 after buying an additional 1,011 shares during the period. Finally, Amalgamated Bank acquired a new position in shares of AFC Gamma in the 1st quarter worth approximately $29,000. 40.67% of the stock is currently owned by institutional investors and hedge funds.

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.