AFC Gamma, Inc. (NASDAQ:AFCG) Insider Buys $25,000.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum bought 4,000 shares of AFC Gamma stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $6.25 per share, with a total value of $25,000.00. Following the completion of the acquisition, the insider now directly owns 117,667 shares in the company, valued at $735,418.75. This represents a 3.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 17th, Robyn Tannenbaum bought 4,000 shares of AFC Gamma stock. The stock was purchased at an average cost of $6.17 per share, with a total value of $24,680.00.

AFC Gamma Stock Down 4.8 %

NASDAQ AFCG opened at $6.30 on Tuesday. 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 company has a market capitalization of $138.30 million, a P/E ratio of 15.75 and a beta of 1.03. AFC Gamma, Inc. has a one year low of $6.08 and a one year high of $13.28. The stock has a 50 day moving average price of $8.30 and a 200-day moving average price of $9.24.

Analysts Set New Price Targets

Several research firms recently issued reports on AFCG. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Jefferies Financial Group lowered shares of AFC Gamma from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $7.00 in a report on Friday. Finally, Alliance Global Partners assumed coverage on AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target for the company. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AFCG. GSA Capital Partners LLP bought a new position in shares of AFC Gamma during the 3rd quarter valued at approximately $140,000. Charles Schwab Investment Management Inc. boosted its position in shares of AFC Gamma by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after acquiring an additional 2,200 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of AFC Gamma by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after acquiring an additional 14,570 shares during the last quarter. Centiva Capital LP bought a new stake in AFC Gamma in the third quarter worth $193,000. Finally, State Street Corp lifted its position in 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 during 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.