AFC Gamma, Inc. (NASDAQ:AFCG) CEO Acquires $30,750.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was acquired at an average price of $6.15 per share, with a total value of $30,750.00. Following the completion of the purchase, the chief executive officer now directly owns 187,261 shares of the company’s stock, valued at approximately $1,151,655.15. The trade was a 2.74 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, March 26th, Daniel Neville bought 5,000 shares of AFC Gamma stock. The stock was purchased at an average price of $6.20 per share, with a total value of $31,000.00.
• On Monday, March 17th, Daniel Neville acquired 16,250 shares of AFC Gamma stock. The shares were bought at an average price of $6.32 per share, with a total value of $102,700.00.
• On Friday, March 14th, Daniel Neville bought 30,349 shares of AFC Gamma stock. The shares were purchased at an average cost of $6.52 per share, for a total transaction of $197,875.48.

AFC Gamma Stock Performance

Shares of AFCG remained flat at $5.57 during trading hours on Tuesday. 277,062 shares of the company were exchanged, compared to its average volume of 174,181. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The stock has a market cap of $125.86 million, a P/E ratio of 13.93 and a beta of 1.03. The stock has a 50 day moving average price of $7.86 and a two-hundred day moving average price of $8.95. AFC Gamma, Inc. has a one year low of $5.41 and a one year high of $12.74.

AFC Gamma Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on AFCG shares. Alliance Global Partners started coverage on shares of AFC Gamma in a research note 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 research note on Thursday, January 23rd. Finally, Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.00 to $7.00 in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AFC Gamma currently has an average rating of “Moderate Buy” and a consensus price target of $9.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position 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 last quarter. Martingale Asset Management L P increased its holdings 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 purchased a new stake in AFC Gamma during the third quarter valued at approximately $52,000. Geode Capital Management LLC increased its holdings in AFC Gamma by 57.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after acquiring an additional 8,877 shares in the last quarter. Finally, State Street Corp boosted its stake 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 acquiring an additional 10,320 shares during the period. Hedge funds and other 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.