AFC Gamma, Inc. (NASDAQ:AFCG) Director Acquires $208,685.64 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum bought 32,007 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $6.52 per share, for a total transaction of $208,685.64. Following the transaction, the director now directly owns 3,909,876 shares in the company, valued at approximately $25,492,391.52. This represents a 0.83 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

AFC Gamma Stock Up 2.9 %

Shares of AFCG opened at $6.48 on Wednesday. AFC Gamma, Inc. has a 52-week low of $6.08 and a 52-week high of $13.28. The company has a market capitalization of $142.26 million, a PE ratio of 16.20 and a beta of 1.03. The stock has a fifty day simple moving average of $8.26 and a two-hundred day simple moving average of $9.21. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.23 dividend. The ex-dividend date is Monday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is presently 115.00%.

Institutional Trading of AFC Gamma

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its position in shares of AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after purchasing an additional 85,655 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AFC Gamma by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after buying an additional 2,200 shares during the period. State Street Corp boosted its stake in shares of AFC Gamma by 2.8% in the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after buying an additional 10,320 shares during the period. Geode Capital Management LLC boosted its stake in shares of AFC Gamma by 57.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after buying an additional 8,877 shares during the period. Finally, Barclays PLC raised its position in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after acquiring an additional 16,245 shares in the last quarter. 26.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AFCG shares. Alliance Global Partners started coverage on AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded AFC Gamma from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.00 to $7.00 in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.67.

About AFC Gamma

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.