AFC Gamma Inc. (NASDAQ:AFCG) Short Interest Update

AFC Gamma Inc. (NASDAQ:AFCG) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 1,745,983 shares, a drop of 16.4% from the February 26th total of 2,088,848 shares. Based on an average daily trading volume, of 307,330 shares, the days-to-cover ratio is currently 5.7 days. Currently, 9.9% of the company’s shares are short sold.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, AFC Gamma currently has an average rating of “Sell” and an average target price of $4.50.

Insider Buying and Selling at AFC Gamma

In other AFC Gamma news, Director Leonard M. Tannenbaum bought 44,914 shares of AFC Gamma stock in a transaction dated Tuesday, March 24th. The shares were purchased at an average cost of $2.59 per share, with a total value of $116,327.26. Following the completion of the purchase, the director owned 6,373,106 shares of the company’s stock, valued at approximately $16,506,344.54. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders purchased 512,008 shares of company stock valued at $1,311,988. 25.10% of the stock is currently owned by company insiders.

AFC Gamma Price Performance

Shares of AFCG stock opened at $2.66 on Monday. The stock has a market cap of $62.59 million, a price-to-earnings ratio of -2.80 and a beta of 1.02. The business’s fifty day moving average is $2.42 and its 200 day moving average is $2.98. AFC Gamma has a twelve month low of $2.06 and a twelve month high of $6.38. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.18). AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. The firm had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $5.36 million. Research analysts expect that AFC Gamma will post 1.64 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is -55.79%.

AFC Gamma Company Profile

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.