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

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville purchased 30,349 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $6.52 per share, for a total transaction of $197,875.48. Following the completion of the acquisition, the chief executive officer now directly owns 161,011 shares of the company’s stock, valued at $1,049,791.72. This represents a 23.23 % increase in their ownership of the stock. 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 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.

AFC Gamma Trading Down 1.4 %

Shares of AFCG opened at $6.39 on Thursday. The business’s 50-day moving average price is $8.22 and its 200 day moving average price is $9.19. AFC Gamma, Inc. has a 1-year low of $6.08 and a 1-year high of $13.28. 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 stock has a market capitalization of $140.28 million, a P/E ratio of 15.98 and a beta of 1.03.

AFC Gamma Dividend Announcement

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

Hedge Funds Weigh In On AFC Gamma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in AFC Gamma by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after acquiring an additional 85,655 shares in the last quarter. Centiva Capital LP acquired a new position in shares of AFC Gamma in the 3rd quarter valued at $193,000. Barclays PLC lifted its holdings in shares of AFC Gamma by 257.0% during 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. Penserra Capital Management LLC boosted its position in shares of AFC Gamma by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after acquiring an additional 14,570 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in AFC Gamma in the third quarter valued at about $140,000. Institutional investors own 26.53% of the company’s stock.

Analyst Ratings Changes

AFCG has been the subject of several research reports. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and lowered their price target for the company from $10.00 to $7.00 in a report on Friday, March 14th. Finally, Alliance Global Partners began coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AFC Gamma presently 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.