Insider Buying: AFC Gamma, Inc. (NASDAQ:AFCG) CEO Acquires 30,349 Shares of Stock

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) CEO Daniel Neville purchased 30,349 shares of the firm's stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $6.52 per share, for a total transaction of $197,875.48. Following the completion of the purchase, the chief executive officer now directly owns 161,011 shares in the company, valued at approximately $1,049,791.72. This trade represents a 23.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.

AFC Gamma Stock Performance

AFC Gamma stock traded up $0.03 during mid-day trading on Friday, reaching $6.38. 118,612 shares of the stock traded hands, compared to its average volume of 171,953. The stock has a market capitalization of $144.05 million, a PE ratio of 15.91 and a beta of 1.03. 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 12-month low of $6.08 and a 12-month high of $13.28. The business's 50-day moving average is $8.18 and its 200-day moving average is $9.17.

AFC Gamma Dividend Announcement

The company also recently disclosed 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 (DPR) is presently 115.00%.

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Wall Street Analysts Forecast Growth

AFCG has been the topic of a number of recent analyst reports. JMP Securities reiterated a "market perform" rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Jefferies Financial Group downgraded AFC Gamma from a "buy" rating to a "hold" rating and dropped their target price for the stock from $10.00 to $7.00 in a report on Friday, March 14th. Finally, Alliance Global Partners began coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a "buy" rating and a $13.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $9.67.

Institutional Trading of AFC Gamma

A number of hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in AFC Gamma in the third quarter worth about $140,000. Charles Schwab Investment Management Inc. increased its position in AFC Gamma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company's stock worth $515,000 after buying an additional 2,200 shares in the last quarter. Penserra Capital Management LLC increased its position in AFC Gamma by 22.9% in the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company's stock worth $799,000 after buying an additional 14,570 shares in the last quarter. Centiva Capital LP purchased a new stake in AFC Gamma in the third quarter worth about $193,000. Finally, State Street Corp increased its position in 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 buying an additional 10,320 shares in the last quarter. Hedge funds and other institutional investors own 26.53% of the company's stock.

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.