Daniel Neville Buys 16,250 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville purchased 16,250 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were purchased at an average cost of $6.32 per share, for a total transaction of $102,700.00. Following the completion of the purchase, the chief executive officer now directly owns 177,261 shares of the company’s stock, valued at approximately $1,120,289.52. This represents a 10.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, March 14th, Daniel Neville purchased 30,349 shares of AFC Gamma stock. The shares were purchased at an average cost of $6.52 per share, for a total transaction of $197,875.48.

AFC Gamma Price Performance

AFC Gamma stock opened at $6.48 on Wednesday. The stock’s 50 day moving average is $8.26 and its 200 day moving average is $9.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. The firm has a market cap of $142.26 million, a P/E ratio of 16.20 and a beta of 1.03. AFC Gamma, Inc. has a one year low of $6.08 and a one year high of $13.28.

AFC Gamma Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and cut their price objective for the stock from $10.00 to $7.00 in a research note on Friday, March 14th. 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 objective on the stock. 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, AFC Gamma currently has an average rating of “Moderate Buy” and a consensus target price of $9.67.

Institutional Investors Weigh In On AFC Gamma

A number of hedge funds have recently added to or reduced their stakes in AFCG. GSA Capital Partners LLP bought a new stake in AFC Gamma in the third quarter worth approximately $140,000. Charles Schwab Investment Management Inc. increased its holdings in AFC Gamma by 4.6% in the third 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 in the last quarter. Penserra Capital Management LLC increased its holdings in AFC Gamma by 22.9% in the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after purchasing an additional 14,570 shares in the last quarter. Centiva Capital LP bought a new stake in AFC Gamma in the third quarter worth approximately $193,000. Finally, State Street Corp increased its holdings in AFC Gamma by 2.8% in 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 in the last quarter. 26.53% of the stock is currently owned by institutional investors.

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.