Robyn Tannenbaum Acquires 4,000 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) insider Robyn Tannenbaum purchased 4,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $6.17 per share, for a total transaction of $24,680.00. Following the acquisition, the insider now owns 121,667 shares of the company's stock, valued at $750,685.39. This represents a 3.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Robyn Tannenbaum also recently made the following trade(s):

• On Friday, March 14th, Robyn Tannenbaum bought 4,000 shares of AFC Gamma stock. The stock was bought at an average cost of $6.25 per share, with a total value of $25,000.00.

AFC Gamma Stock Up 0.4 %

Shares of NASDAQ:AFCG traded up $0.03 on Friday, hitting $6.38. 118,612 shares of the company traded hands, compared to its average volume of 171,969. The company has a market cap of $144.05 million, a PE ratio of 15.91 and a beta of 1.03. The stock has a 50 day simple moving average of $8.18 and a 200-day simple moving average of $9.17. AFC Gamma, Inc. has a 52 week low of $6.08 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.

AFC Gamma Dividend Announcement

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

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Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Alliance Global Partners assumed 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. Jefferies Financial Group lowered AFC Gamma from a "buy" rating to a "hold" rating and dropped their price target for the company from $10.00 to $7.00 in a research report on Friday, March 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AFC Gamma has an average rating of "Moderate Buy" and a consensus price target of $9.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of AFC Gamma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company's stock valued at $515,000 after purchasing an additional 2,200 shares during the last quarter. Martingale Asset Management L P grew 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 during the period. McIlrath & Eck LLC purchased a new stake in AFC Gamma during the 3rd quarter valued at $52,000. Geode Capital Management LLC lifted 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 buying an additional 8,877 shares during the period. Finally, State Street Corp lifted its holdings in shares of AFC Gamma by 2.8% during the 3rd quarter. State Street Corp now owns 376,611 shares of the company's stock valued at $3,968,000 after buying an additional 10,320 shares during the period. 26.53% of the stock is 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.