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

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum acquired 50,000 shares of AFC Gamma stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $6.20 per share, for a total transaction of $310,000.00. Following the completion of the transaction, the director now directly owns 3,959,876 shares in the company, valued at $24,551,231.20. This trade represents a 1.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AFC Gamma Stock Performance

AFC Gamma stock opened at $6.48 on Wednesday. The company has a market capitalization of $142.26 million, a PE ratio of 16.20 and a beta of 1.03. AFC Gamma, Inc. has a fifty-two week low of $6.08 and a fifty-two week high of $13.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The company has a 50 day moving average price of $8.26 and a 200-day moving average price of $9.21.

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 paid a $0.23 dividend. The ex-dividend date is Monday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is 115.00%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $7.00 in a research note on Friday, March 14th. Alliance Global Partners assumed coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Three equities 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 company’s stock. Based on data from MarketBeat.com, AFC Gamma presently has an average rating of “Moderate Buy” and a consensus target price of $9.67.

Hedge Funds Weigh In On AFC Gamma

A number of large investors have recently bought and sold shares of the business. Martingale Asset Management L P raised its stake in 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 buying an additional 4,005 shares in the last quarter. Tidal Investments LLC raised its stake in AFC Gamma by 19.7% in the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after buying an additional 85,655 shares in the last quarter. Barclays PLC raised its stake in AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after buying an additional 16,245 shares in the last quarter. McIlrath & Eck LLC bought a new position in AFC Gamma in the third quarter worth approximately $52,000. Finally, Geode Capital Management LLC raised its stake in AFC Gamma by 57.8% in the third 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 in the last quarter. Institutional investors own 26.53% of the company’s stock.

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.