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AFC Gamma, Inc. (NASDAQ:AFCG) Sees Significant Increase in Short Interest

AFC Gamma, Inc. (NASDAQ:AFCG) Sees Significant Increase in Short Interest

There was a discernible increase in the number of short positions taken on AFC Gamma, Inc. during December (NASDAQ: AFCG). On December 30, the total number of shares subject to short positions reached 1,060,000, representing a 49.3% increase over the previous day’s total of 709,900 shares subject to short positions. At present, short sales constitute 6.6% of the total shares held by the company. The days-to-cover ratio is currently at 8.6 days, which is based on an average trading volume of 123,500 shares. This number was calculated earlier.

AFC Gamma (NASDAQ: AFCG) released the results of its most recent fiscal quarter on Tuesday, November 8. This day marked the day that the company made the announcement. The company reported earnings per share of $0.58 for the quarter, which was $0.08 lower than the average prediction of $0.66 per share. The revenue for the quarter came in at $19.79 million, a significant decrease from the consensus projection of $21.93 million in revenue for the period. The return on equity for AFC Gamma was 14.11 percent, and the company’s net margin was 53.98%. Both of these figures are percentages. According to projections provided by stock analysts, AFC Gamma is expected to have earnings of $2.42 per share in 2018.

When trading started on Thursday, the price of one share of AFC Gamma was $16.32 per share. The company’s moving average price over the past 200 days is $16.59, and the moving average price over the last 50 days is $16.44. Currently, the company possesses a price-to-earnings ratio of 7.81, a beta value of 1.06, and a market capitalization of $332.34 million. Over the previous year, the price of AFC Gamma ranged from a low of $14.90 to a high of $20.74.

Several well-known investors have been active in the stock market over the past few months, buying and selling AFCG shares on multiple occasions. During the third quarter, ETF Managers Group LLC successfully achieved a 45.8% increase in the size of its holdings in AFC Gamma. ETF Managers Group LLC now has 610,630 shares, with a combined value of $9,342,000. This is because the company purchased an additional 191,914 shares during the preceding quarter. Vanguard Group Inc. increased the proportion of AFC Gamma owned by 32.5 percent over the first three months of 2018. After purchasing an additional 190,609 shares during the most recent quarter, Vanguard Group Inc. now owns 776,261 shares of the company’s stock. Based on the current market price, these shares are worth $14,842,000. BlackRock Inc. increased the proportion of AFC Gamma in which it was invested by 19.4% during the third quarter. BlackRock Inc. now has a total of 951,785 shares of the company’s stock, which are currently valued at $14,562,000 after purchasing an additional 154,953 shares during the most recent quarter. Over the first three months of the year, Federated Hermes Inc. increased the percentage of AFC Gamma shares it held by 12.5%. Federated Hermes Inc. now has a total of 900,000 shares, with a value of $17,208,000. This is a result of the most recent fiscal quarter’s purchase of an additional 100,000 shares in the company, which brought the total number of shares held in the company to 900,000. In the second quarter, Philadelphia Financial Management of San Francisco LLC increased the amount of AFC Gamma stock owned by 16.9%. This brings us to our last point. In the most recent quarter, Philadelphia Financial Management of San Francisco LLC increased its holdings by purchasing an additional 89,551 shares, bringing the total number of shares it owns to 620,692. The price at which these shares are currently trading on the market is $9,515,000. Shares of the company are held by various types of institutional investors, including hedge funds, for a combined total of 36.90%.

The company just recently declared and distributed a quarterly dividend, which was paid out on January 13 of this year. In addition, the company just recently announced and distributed a dividend. On December 31, stockholders were given a dividend payment of $0.56 per share. The payment was made that day. Thursday, December 29, was the day that the dividend was disbursed; that day was also the month of December. This equates to an annual dividend payment of $2.24 and a yield of 13.73 percent for the investment. Currently, AFC Gamma has a dividend payout ratio sitting at 107.18 percent.

On behalf of established cannabis businesses located in states that allow the use of cannabis for medicinal or adult purposes, AFC Gamma, Inc. originates, develops, underwrites, an


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