Robyn Tannenbaum Purchases 4,000 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum acquired 4,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $6.25 per share, with a total value of $25,000.00. Following the purchase, the insider now owns 117,667 shares in the company, valued at approximately $735,418.75. The trade was a 3.52 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Robyn Tannenbaum also recently made the following trade(s):

• On Monday, March 17th, Robyn Tannenbaum bought 4,000 shares of AFC Gamma stock. The shares were bought at an average cost of $6.17 per share, with a total value of $24,680.00.

AFC Gamma Price Performance

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

AFC Gamma Announces Dividend

The business 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 of this dividend is Monday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is 115.00%.

Institutional Trading of AFC Gamma

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in AFC Gamma by 4.6% during the 3rd 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. Martingale Asset Management L P lifted its holdings in AFC Gamma by 24.1% during 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. McIlrath & Eck LLC purchased a new stake in AFC Gamma during the 3rd quarter worth about $52,000. Geode Capital Management LLC lifted its holdings in AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after purchasing an additional 8,877 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of AFC Gamma by 2.8% in the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after acquiring an additional 10,320 shares in the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Wall Street Analyst Weigh In

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

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.