AFC Gamma, Inc. (NASDAQ:AFCG) Director Buys $310,000.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average price of $6.20 per share, for a total transaction of $310,000.00. Following the purchase, the director now owns 3,959,876 shares of the company’s stock, valued at approximately $24,551,231.20. This represents a 1.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

AFC Gamma Price Performance

Shares of NASDAQ AFCG opened at $6.39 on Thursday. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $140.28 million, a price-to-earnings ratio of 15.98 and a beta of 1.03. AFC Gamma, Inc. has a twelve month low of $6.08 and a twelve month high of $13.28. The business has a 50 day simple moving average of $8.22 and a 200-day simple moving average of $9.19.

AFC Gamma Dividend Announcement

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

Hedge Funds Weigh In On AFC Gamma

Several institutional investors have recently made changes to their positions in AFCG. McIlrath & Eck LLC acquired a new position in AFC Gamma during the 3rd quarter valued at approximately $52,000. GSA Capital Partners LLP bought a new stake in AFC Gamma in the third quarter valued at $140,000. Martingale Asset Management L P boosted its holdings in shares of AFC Gamma by 24.1% during the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock valued at $172,000 after acquiring an additional 4,005 shares during the period. Centiva Capital LP bought a new position in shares of AFC Gamma during the third quarter worth about $193,000. Finally, Barclays PLC increased its holdings in shares of 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 acquiring an additional 16,245 shares during the period. 26.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AFCG shares. Alliance Global Partners started coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price on the stock. Jefferies Financial Group cut shares of AFC Gamma from a “buy” rating to a “hold” rating and cut their price target for the company from $10.00 to $7.00 in a report on Friday, March 14th. Finally, JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Three research 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 stock. Based on data from MarketBeat, AFC Gamma has a consensus rating of “Moderate Buy” and an average price target 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.