Leonard M. Tannenbaum Acquires 32,007 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum purchased 32,007 shares of the stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $6.52 per share, for a total transaction of $208,685.64. Following the acquisition, the director now directly owns 3,909,876 shares of the company’s stock, valued at $25,492,391.52. This represents a 0.83 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AFC Gamma Trading Down 4.8 %

Shares of AFCG traded down $0.32 during trading hours on Monday, reaching $6.30. The stock had a trading volume of 580,267 shares, compared to its average volume of 167,861. AFC Gamma, Inc. has a 52 week low of $6.10 and a 52 week high of $13.28. 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 $138.30 million, a P/E ratio of 15.75 and a beta of 1.03. The firm has a 50-day moving average of $8.34 and a 200 day moving average of $9.27.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Alliance Global Partners began coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and lowered their price target for the company from $10.00 to $7.00 in a research note on Friday. Three equities 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 stock. According to data from MarketBeat.com, AFC Gamma currently has a consensus rating of “Moderate Buy” and an average price target of $9.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. McIlrath & Eck LLC acquired a new position in shares of AFC Gamma during the 3rd quarter worth approximately $52,000. GSA Capital Partners LLP bought a new position in AFC Gamma in the 3rd quarter valued at approximately $140,000. Centiva Capital LP acquired a new position in shares of AFC Gamma during the third quarter worth $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. Finally, Barclays PLC boosted its holdings in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after buying an additional 16,245 shares in the last quarter. 26.53% of the stock is owned by institutional investors and hedge funds.

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.