AFC Gamma, Inc. (NASDAQ:AFCG) CEO Acquires $197,875.48 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville bought 30,349 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of $6.52 per share, with a total value of $197,875.48. Following the purchase, the chief executive officer now directly owns 161,011 shares of the company’s stock, valued at $1,049,791.72. The trade was a 23.23 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Daniel Neville also recently made the following trade(s):

• On Monday, March 17th, Daniel Neville acquired 16,250 shares of AFC Gamma stock. The stock was acquired at an average cost of $6.32 per share, for a total transaction of $102,700.00.

AFC Gamma Stock Down 1.4 %

NASDAQ:AFCG opened at $6.39 on Thursday. The stock has a 50-day simple moving average of $8.22 and a 200 day simple moving average of $9.19. AFC Gamma, Inc. has a 52-week low of $6.08 and a 52-week high of $13.28. The company has a market cap of $140.28 million, a PE ratio of 15.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92.

AFC Gamma Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On AFC Gamma

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of AFC Gamma by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after purchasing an additional 2,200 shares during the last quarter. Martingale Asset Management L P lifted its position in AFC Gamma by 24.1% during the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock worth $172,000 after acquiring an additional 4,005 shares during the last quarter. McIlrath & Eck LLC bought a new stake in shares of AFC Gamma during the third quarter worth approximately $52,000. Geode Capital Management LLC grew its position in shares of AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after purchasing an additional 8,877 shares during the last quarter. Finally, State Street Corp increased its stake in shares of AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares during the period. 26.53% of the stock is currently owned by institutional investors and hedge funds.

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.