AFC Gamma, Inc. (NASDAQ:AFCG) CEO Purchases $31,000.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville bought 5,000 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were purchased at an average price of $6.20 per share, for a total transaction of $31,000.00. Following the purchase, the chief executive officer now owns 182,261 shares in the company, valued at $1,130,018.20. This trade represents a 2.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, March 17th, Daniel Neville acquired 16,250 shares of AFC Gamma stock. The shares were purchased at an average price of $6.32 per share, for a total transaction of $102,700.00.
• On Friday, March 14th, Daniel Neville purchased 30,349 shares of AFC Gamma stock. The shares were acquired at an average cost of $6.52 per share, for a total transaction of $197,875.48.

AFC Gamma Stock Performance

Shares of NASDAQ:AFCG opened at $6.29 on Friday. The firm has a fifty day simple moving average of $7.97 and a two-hundred day simple moving average of $9.03. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $142.13 million, a P/E ratio of 15.73 and a beta of 1.03. AFC Gamma, Inc. has a 52 week low of $6.08 and a 52 week high of $12.74.

AFC Gamma Announces Dividend

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

Hedge Funds Weigh In On AFC Gamma

A number of large investors have recently made changes to their positions in AFCG. Tidal Investments LLC lifted its stake in shares of AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after acquiring an additional 85,655 shares during the last quarter. Centiva Capital LP bought a new position in AFC Gamma in the 3rd quarter worth about $193,000. Barclays PLC increased its position in shares of AFC Gamma by 257.0% during the third 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 raised its stake in shares of AFC Gamma by 22.9% during the third 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, State Street Corp boosted its holdings in shares of AFC Gamma by 2.8% in the third quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after purchasing an additional 10,320 shares during the period. 26.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Alliance Global Partners initiated coverage on AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 target price for the company. Jefferies Financial Group downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating and lowered their target price for the stock from $10.00 to $7.00 in a report on Friday, March 14th. Finally, JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Three investment 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 currently has a consensus rating of “Moderate Buy” and a consensus 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.