AFC Gamma, Inc. (NASDAQ:AFCG) CEO Buys $31,000.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $6.20 per share, with a total value of $31,000.00. Following the completion of the transaction, the chief executive officer now owns 182,261 shares in the company, valued at $1,130,018.20. This trade represents a 2.82 % increase in their ownership of the stock. The transaction was disclosed in a legal 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 bought 16,250 shares of AFC Gamma stock. The shares were acquired at an average price of $6.32 per share, with a total value of $102,700.00.
• On Friday, March 14th, Daniel Neville purchased 30,349 shares of AFC Gamma stock. The stock was bought at an average price of $6.52 per share, for a total transaction of $197,875.48.

AFC Gamma Stock Up 0.8 %

Shares of AFC Gamma stock traded up $0.05 on Thursday, reaching $6.29. The company’s stock had a trading volume of 170,433 shares, compared to its average volume of 172,294. The company has a market capitalization of $142.13 million, a price-to-earnings ratio of 15.73 and a beta of 1.03. 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, Inc. has a 52 week low of $6.08 and a 52 week high of $12.87. The firm’s fifty day simple moving average is $8.02 and its two-hundred day simple moving average is $9.05.

AFC Gamma Announces Dividend

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

Analyst Upgrades and Downgrades

AFCG has been the topic of several analyst reports. Alliance Global Partners initiated coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group lowered shares of AFC Gamma from a “buy” rating to a “hold” rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.67.

Hedge Funds Weigh In On AFC Gamma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Martingale Asset Management L P grew its stake in shares of AFC Gamma by 24.1% in 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 period. Tidal Investments LLC grew its position in AFC Gamma by 19.7% in 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 period. Barclays PLC grew its position in AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares during the period. McIlrath & Eck LLC bought a new position in shares of AFC Gamma during the 3rd quarter valued at $52,000. Finally, 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 worth $248,000 after buying an additional 8,877 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

AFC Gamma Company Profile

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.