AFC Gamma, Inc. (NASDAQ:AFCG) CEO Acquires $102,700.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville acquired 16,250 shares of AFC Gamma stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average cost of $6.32 per share, with a total value of $102,700.00. Following the purchase, the chief executive officer now owns 177,261 shares in the company, valued at $1,120,289.52. The trade was a 10.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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, with a total value of $197,875.48.

AFC Gamma Stock Performance

NASDAQ:AFCG opened at $6.39 on Thursday. The firm’s 50-day moving average is $8.22 and its 200-day moving average is $9.19. 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 company has a market cap of $140.28 million, a price-to-earnings ratio of 15.98 and a beta of 1.03.

AFC Gamma Dividend Announcement

The business also recently disclosed 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 is Monday, March 31st. AFC Gamma’s payout ratio is 115.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group lowered shares of AFC Gamma from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.00 to $7.00 in a research report on Friday, March 14th. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Finally, Alliance Global Partners assumed coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 target price for the company. Three equities 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AFCG. GSA Capital Partners LLP bought a new position in shares of AFC Gamma during the 3rd quarter worth about $140,000. Charles Schwab Investment Management Inc. increased its stake in AFC Gamma by 4.6% in the third 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 period. Penserra Capital Management LLC increased its stake in AFC Gamma by 22.9% in the third 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 period. Centiva Capital LP bought a new stake in AFC Gamma in the third quarter valued at about $193,000. Finally, State Street Corp increased 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 acquiring an additional 10,320 shares during the period. Institutional investors own 26.53% of the company’s stock.

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.