Insider Buying: AFC Gamma, Inc. (NASDAQ:AFCG) CEO Purchases 5,000 Shares of Stock

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) CEO Daniel Neville purchased 5,000 shares of the business's stock in a transaction on Friday, March 28th. The stock was purchased at an average cost of $6.15 per share, for a total transaction of $30,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 187,261 shares of the company's stock, valued at approximately $1,151,655.15. The trade was a 2.74 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

AFC Gamma Stock Performance

AFCG traded down $0.38 during trading on Friday, reaching $5.05. 323,669 shares of the company's stock were exchanged, compared to its average volume of 176,852. The company's fifty day simple moving average is $7.64 and its 200-day simple moving average is $8.82. The stock has a market capitalization of $114.11 million, a P/E ratio of 12.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. AFC Gamma, Inc. has a 1 year low of $4.97 and a 1 year high of $12.74.

AFC Gamma Announces Dividend

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

Institutional Investors Weigh In On AFC Gamma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AFCG. McIlrath & Eck LLC purchased a new stake in shares of AFC Gamma in the third quarter worth about $52,000. Martingale Asset Management L P boosted its position in AFC Gamma by 24.1% in the 4th quarter. Martingale Asset Management L P now owns 20,623 shares of the company's stock worth $172,000 after purchasing an additional 4,005 shares in the last quarter. Centiva Capital LP purchased a new stake in AFC Gamma in the 3rd quarter worth approximately $193,000. Barclays PLC grew its stake 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 purchasing an additional 16,245 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock valued at $248,000 after purchasing an additional 8,877 shares in the last quarter. 26.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AFCG has been the subject of a number of recent analyst reports. Alliance Global Partners began 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 for the company. JMP Securities reaffirmed a "market perform" rating on shares of AFC Gamma in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lowered shares of AFC Gamma from a "buy" rating to a "hold" rating and dropped their price objective for the company from $10.00 to $7.00 in a 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. According to MarketBeat.com, AFC Gamma has a consensus rating of "Moderate Buy" and an average price target 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.