AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville Buys 5,000 Shares

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville acquired 5,000 shares of AFC Gamma stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average cost of $6.20 per share, with a total value 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. The trade was a 2.82 % increase in their position. 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 bought 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 bought at an average price of $6.52 per share, with a total value of $197,875.48.

AFC Gamma Stock Performance

Shares of NASDAQ AFCG opened at $6.09 on Friday. AFC Gamma, Inc. has a 12 month low of $6.07 and a 12 month high of $12.74. 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 company has a market cap of $137.61 million, a P/E ratio of 15.23 and a beta of 1.03. The business’s 50 day moving average is $7.92 and its two-hundred day moving average is $8.99.

AFC Gamma Dividend Announcement

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

Institutional Trading of AFC Gamma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of AFC Gamma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after buying an additional 2,200 shares during the last quarter. Martingale Asset Management L P increased its stake in 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 acquiring an additional 4,005 shares during the period. McIlrath & Eck LLC acquired a new position in AFC Gamma in the 3rd quarter valued at approximately $52,000. Geode Capital Management LLC lifted its position in shares of AFC Gamma by 57.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after acquiring an additional 8,877 shares during the period. Finally, State Street Corp lifted its position 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 worth $3,968,000 after acquiring an additional 10,320 shares during the period. 26.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $7.00 in a report on Friday, March 14th. JMP Securities restated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Finally, Alliance Global Partners assumed coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price on the stock. Three 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, the stock presently has an average 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.