AFC Gamma, Inc. (NASDAQ:AFCG) CEO Buys $31,000.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) CEO Daniel Neville acquired 5,000 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was bought at an average cost of $6.20 per share, for a total transaction of $31,000.00. Following the completion of the transaction, the chief executive officer now directly owns 182,261 shares of the company's stock, valued at approximately $1,130,018.20. This trade represents a 2.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 17th, Daniel Neville purchased 16,250 shares of AFC Gamma stock. The stock was bought at an average cost of $6.32 per share, for a total transaction of $102,700.00.
• On Friday, March 14th, Daniel Neville acquired 30,349 shares of AFC Gamma stock. The shares were purchased at an average price of $6.52 per share, with a total value of $197,875.48.

AFC Gamma Price Performance

Shares of NASDAQ AFCG traded down $0.52 during midday trading on Monday, reaching $5.57. The company's stock had a trading volume of 475,226 shares, compared to its average volume of 173,772. The company has a market cap of $125.86 million, a P/E ratio of 13.93 and a beta of 1.03. AFC Gamma, Inc. has a fifty-two week low of $5.48 and a fifty-two week high of $12.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The business's 50 day moving average price is $7.86 and its two-hundred day moving average price is $8.95.

AFC Gamma Dividend Announcement

The business also recently announced a dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend payout ratio (DPR) is currently 115.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in AFC Gamma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company's stock worth $515,000 after purchasing an additional 2,200 shares during the last quarter. Martingale Asset Management L P boosted its stake in AFC Gamma by 24.1% in 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 in the last quarter. McIlrath & Eck LLC bought a new position in AFC Gamma in the third quarter valued at about $52,000. Geode Capital Management LLC grew its position in AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock valued at $248,000 after acquiring an additional 8,877 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of AFC Gamma by 2.8% in the third 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 last quarter. Institutional investors own 26.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AFCG. Alliance Global Partners initiated coverage on AFC Gamma in a report on Tuesday, December 17th. They set a "buy" rating and a $13.00 price target for the company. Jefferies Financial Group cut AFC Gamma from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $10.00 to $7.00 in a research report on Friday, March 14th. Finally, JMP Securities reissued a "market perform" rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.