AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum Acquires 50,000 Shares of Stock

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum acquired 50,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was purchased at an average cost of $6.20 per share, with a total value of $310,000.00. Following the transaction, the director now owns 3,959,876 shares of the company’s stock, valued at approximately $24,551,231.20. The trade was a 1.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

AFC Gamma Trading Down 4.8 %

AFCG opened at $6.30 on Tuesday. The stock has a market capitalization of $138.30 million, a PE ratio of 15.75 and a beta of 1.03. The firm’s fifty day moving average price is $8.30 and its 200 day moving average price is $9.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. AFC Gamma, Inc. has a 12-month low of $6.08 and a 12-month high of $13.28.

Institutional Trading of AFC Gamma

Several institutional investors have recently added to or reduced their stakes in the stock. Martingale Asset Management L P raised its holdings in shares of AFC Gamma by 24.1% during the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock worth $172,000 after purchasing an additional 4,005 shares during the period. Tidal Investments LLC grew its position in AFC Gamma by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after buying an additional 85,655 shares in the last quarter. Barclays PLC grew its position in AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after buying an additional 16,245 shares in the last quarter. McIlrath & Eck LLC bought a new position in AFC Gamma in the 3rd quarter valued at about $52,000. Finally, Geode Capital Management LLC boosted its position in shares of AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after purchasing an additional 8,877 shares in the last quarter. 26.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AFCG has been the subject of a number of analyst reports. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Jefferies Financial Group downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $10.00 to $7.00 in a research note on Friday. Finally, Alliance Global Partners started coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company. Three 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 has an average rating of “Moderate Buy” and a consensus target price 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.