Leonard M. Tannenbaum Acquires 32,007 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum bought 32,007 shares of AFC Gamma stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $6.52 per share, with a total value of $208,685.64. Following the completion of the acquisition, the director now directly owns 3,909,876 shares of the company’s stock, valued at $25,492,391.52. This represents a 0.83 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

AFC Gamma Stock Performance

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 quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The company has a market cap of $142.26 million, a P/E ratio of 16.20 and a beta of 1.03. The firm’s 50-day moving average price is $8.26 and its 200-day moving average price is $9.21.

AFC Gamma Announces Dividend

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

Hedge Funds Weigh In On AFC Gamma

Hedge funds have recently modified their holdings of the stock. McIlrath & Eck LLC purchased a new stake in AFC Gamma in the third quarter valued at approximately $52,000. GSA Capital Partners LLP purchased a new stake in AFC Gamma in the 3rd quarter worth approximately $140,000. Centiva Capital LP purchased a new stake in AFC Gamma in the 3rd quarter worth approximately $193,000. Martingale Asset Management L P boosted its position in AFC Gamma by 24.1% in the 4th quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock worth $172,000 after purchasing an additional 4,005 shares in the last quarter. Finally, Barclays PLC boosted 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 in the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

Analyst Ratings Changes

AFCG has been the subject of a number of recent research reports. Alliance Global Partners initiated coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price for the company. Jefferies Financial Group downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $7.00 in a report on Friday, March 14th. Finally, JMP Securities restated a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.

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.