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

AFC Gamma, Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $6.17 per share, with a total value of $24,680.00. Following the acquisition, the insider now directly owns 121,667 shares of the company’s stock, valued at $750,685.39. This trade represents a 3.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

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

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

AFC Gamma Stock Performance

NASDAQ:AFCG opened at $6.48 on Wednesday. The stock has a 50-day simple moving average of $8.26 and a two-hundred day simple moving average of $9.21. AFC Gamma, Inc. has a 52-week low of $6.08 and a 52-week high of $13.28. 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 firm has a market capitalization of $142.26 million, a PE ratio of 16.20 and a beta of 1.03.

AFC Gamma Announces Dividend

The firm also recently disclosed 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 (DPR) is 115.00%.

Wall Street Analysts Forecast Growth

AFCG has been the subject of several research analyst reports. Alliance Global Partners initiated coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and cut their price objective for the stock from $10.00 to $7.00 in a report on Friday, March 14th. Three equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.67.

Hedge Funds Weigh In On AFC Gamma

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 acquiring an additional 2,200 shares during the period. Martingale Asset Management L P boosted its stake in shares of AFC Gamma by 24.1% in the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock worth $172,000 after acquiring an additional 4,005 shares during the period. McIlrath & Eck LLC bought a new position in shares of AFC Gamma in the third quarter worth about $52,000. Geode Capital Management LLC lifted its position in shares of AFC Gamma by 57.8% in 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. Finally, State Street Corp lifted its position in shares of 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. 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.