Daniel Neville Buys 5,000 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville bought 5,000 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was purchased at an average cost of $6.15 per share, for a total transaction of $30,750.00. Following the completion of the acquisition, the chief executive officer now owns 187,261 shares in the company, valued at $1,151,655.15. This trade represents a 2.74 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, March 26th, Daniel Neville purchased 5,000 shares of AFC Gamma stock. The shares were acquired at an average cost of $6.20 per share, for a total transaction of $31,000.00.
• 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, with a total value of $102,700.00.
• On Friday, March 14th, Daniel Neville purchased 30,349 shares of AFC Gamma stock. The stock was acquired at an average price of $6.52 per share, for a total transaction of $197,875.48.

AFC Gamma Trading Up 2.7 %

AFCG stock opened at $5.72 on Thursday. AFC Gamma, Inc. has a 52 week low of $5.40 and a 52 week high of $12.74. The company has a market capitalization of $129.25 million, a PE ratio of 14.30 and a beta of 1.03. The company’s 50-day simple moving average is $7.75 and its 200 day simple moving average is $8.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92.

AFC Gamma Announces Dividend

The firm 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 of this dividend is Monday, March 31st. AFC Gamma’s dividend payout ratio is presently 115.00%.

Institutional Investors Weigh In On AFC Gamma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in AFC Gamma by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after acquiring an additional 2,200 shares during the period. Centiva Capital LP bought a new position in shares of AFC Gamma in the third quarter worth $193,000. State Street Corp raised its stake in AFC Gamma by 2.8% in the third quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after purchasing an additional 10,320 shares in the last quarter. Barclays PLC lifted its position in AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares during the period. Finally, Geode Capital Management LLC grew its stake in AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after buying an additional 8,877 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities 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 on the stock. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Finally, Jefferies Financial Group cut 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 report on Friday, March 14th. Three investment 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.67.

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.