AFC Gamma, Inc. (NASDAQ:AFCG) CEO Acquires $30,750.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville purchased 5,000 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was acquired at an average price of $6.15 per share, for a total transaction of $30,750.00. Following the purchase, the chief executive officer now owns 187,261 shares in the company, valued at approximately $1,151,655.15. The trade was a 2.74 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Wednesday, March 26th, Daniel Neville acquired 5,000 shares of AFC Gamma stock. The stock was acquired at an average cost of $6.20 per share, for a total transaction of $31,000.00.
• On Monday, March 17th, Daniel Neville bought 16,250 shares of AFC Gamma stock. The stock was bought at an average cost of $6.32 per share, with a total value 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 cost of $6.52 per share, for a total transaction of $197,875.48.

AFC Gamma Price Performance

AFCG stock opened at $5.72 on Thursday. 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 52-week low of $5.40 and a 52-week high of $12.74. The company has a market capitalization of $129.25 million, a P/E ratio of 14.30 and a beta of 1.03. The company has a fifty day moving average price of $7.75 and a 200-day moving average price of $8.90.

AFC Gamma Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AFCG. 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 price objective for the company. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded AFC Gamma from a “buy” rating to a “hold” rating and dropped their target price for the company from $10.00 to $7.00 in a research report on Friday, March 14th. Three equities research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.67.

Institutional Investors Weigh In On AFC Gamma

Several institutional investors and hedge funds have recently made changes to their positions in AFCG. McIlrath & Eck LLC bought a new stake in AFC Gamma in the third quarter valued at approximately $52,000. Centiva Capital LP acquired a new position in shares of AFC Gamma in the 3rd quarter worth approximately $193,000. Martingale Asset Management L P increased its position 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 worth $172,000 after buying an additional 4,005 shares during the period. Barclays PLC raised its stake in 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 buying an additional 16,245 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in AFC Gamma by 57.8% during 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 during the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

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.