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

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville purchased 5,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was acquired at an average price of $6.20 per share, for a total transaction of $31,000.00. Following the completion of the transaction, the chief executive officer now owns 182,261 shares of the company’s stock, valued at $1,130,018.20. This represents a 2.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

AFC Gamma Price Performance

AFCG opened at $6.09 on Friday. The firm has a market capitalization of $137.61 million, a P/E ratio of 15.23 and a beta of 1.03. The stock has a fifty day moving average of $7.92 and a 200-day moving average of $8.99. 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, Inc. has a 12-month low of $6.07 and a 12-month high of $12.74.

AFC Gamma Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Shareholders 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 payout ratio is presently 115.00%.

Hedge Funds Weigh In On AFC Gamma

Several institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted 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 worth $515,000 after purchasing an additional 2,200 shares during the period. Martingale Asset Management L P lifted 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 buying an additional 4,005 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in shares of AFC Gamma during the 3rd quarter valued at $52,000. Geode Capital Management LLC boosted its stake 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 grew 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 acquiring an additional 10,320 shares in the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AFCG shares. Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.00 to $7.00 in a research note on Friday, March 14th. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Finally, Alliance Global Partners initiated coverage on AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target on the stock. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AFC Gamma currently has a consensus rating of “Moderate Buy” and a consensus price target 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.