AFC Gamma, Inc. (NASDAQ:AFCG) Director Purchases $310,000.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard M. Tannenbaum acquired 50,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was acquired at an average cost of $6.20 per share, with a total value of $310,000.00. Following the acquisition, the director now owns 3,959,876 shares of the company's stock, valued at $24,551,231.20. This trade represents a 1.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Stock Performance

Shares of AFCG traded up $0.03 during midday trading on Friday, hitting $6.38. 118,612 shares of the stock traded hands, compared to its average volume of 171,953. AFC Gamma, Inc. has a 1-year low of $6.08 and a 1-year high of $13.28. The firm 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 quick ratio of 3.92 and a current ratio of 3.92. The business's 50 day moving average price is $8.18 and its two-hundred day moving average price is $9.17.

AFC Gamma Dividend Announcement

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

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Wall Street Analyst Weigh In

A number of equities analysts have commented on AFCG shares. Jefferies Financial Group downgraded shares of AFC Gamma from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $10.00 to $7.00 in a report on Friday, March 14th. JMP Securities reaffirmed a "market perform" rating on shares of AFC Gamma in a report on Thursday, January 23rd. Finally, Alliance Global Partners started coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a "buy" rating and a $13.00 price objective for the company. Three investment 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. Based on data from MarketBeat, AFC Gamma presently has an average rating of "Moderate Buy" and an average price target of $9.67.

Institutional Investors Weigh In On AFC Gamma

Hedge funds and other institutional investors have recently modified their holdings of the stock. McIlrath & Eck LLC bought a new stake in AFC Gamma in the third quarter worth about $52,000. GSA Capital Partners LLP purchased a new position in AFC Gamma during the 3rd quarter valued at about $140,000. Martingale Asset Management L P grew its stake in AFC Gamma by 24.1% during the 4th quarter. Martingale Asset Management L P now owns 20,623 shares of the company's stock valued at $172,000 after acquiring an additional 4,005 shares in the last quarter. Centiva Capital LP purchased a new position in AFC Gamma during the 3rd quarter valued at about $193,000. Finally, Barclays PLC grew its stake in shares of AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company's stock valued at $231,000 after buying an additional 16,245 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors.

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.