Insider Buying: AFC Gamma, Inc. (NASDAQ:AFCG) Insider Buys 4,000 Shares of Stock

AFC Gamma, Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $6.17 per share, for a total transaction of $24,680.00. Following the completion of the transaction, the insider now directly owns 121,667 shares of the company’s stock, valued at $750,685.39. This represents a 3.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, March 14th, Robyn Tannenbaum bought 4,000 shares of AFC Gamma stock. The stock was purchased at an average price of $6.25 per share, for a total transaction of $25,000.00.

AFC Gamma Trading Up 2.9 %

AFCG opened at $6.48 on Wednesday. The stock has a market cap of $142.26 million, a price-to-earnings ratio of 16.20 and a beta of 1.03. The stock’s 50 day moving average price is $8.26 and its 200-day moving average price is $9.21. AFC Gamma, Inc. has a one year low of $6.08 and a one year 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.

AFC Gamma Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Martingale Asset Management L P grew its stake in shares of AFC Gamma by 24.1% during the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock valued at $172,000 after buying an additional 4,005 shares during the last quarter. Tidal Investments LLC grew its stake in shares of AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after buying an additional 85,655 shares during the last quarter. Barclays PLC grew its stake in shares of AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after buying an additional 16,245 shares during the last quarter. McIlrath & Eck LLC bought a new position in shares of AFC Gamma during the third quarter valued at approximately $52,000. Finally, Geode Capital Management LLC grew its stake in shares of AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after buying an additional 8,877 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AFCG. Jefferies Financial Group downgraded AFC Gamma from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.00 to $7.00 in a research report on Friday, March 14th. Alliance Global Partners began coverage on AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, JMP Securities restated a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AFC Gamma presently has a consensus rating of “Moderate Buy” and a consensus 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.