AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum Buys 32,007 Shares of Stock

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum bought 32,007 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $6.52 per share, for a total transaction of $208,685.64. Following the completion of the acquisition, the director now directly owns 3,909,876 shares in the company, valued at approximately $25,492,391.52. The trade was a 0.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $6.30 on Tuesday. AFC Gamma, Inc. has a 1-year low of $6.08 and a 1-year high of $13.28. 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 company has a market capitalization of $138.30 million, a price-to-earnings ratio of 15.75 and a beta of 1.03. The stock’s fifty day simple moving average is $8.30 and its 200-day simple moving average is $9.24.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AFCG shares. Alliance Global Partners started coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price on the stock. Jefferies Financial Group cut AFC Gamma from a “buy” rating to a “hold” rating and decreased their target price for the stock from $10.00 to $7.00 in a report on Friday. Finally, JMP Securities restated a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. McIlrath & Eck LLC purchased a new position in shares of AFC Gamma during the third quarter valued at $52,000. GSA Capital Partners LLP acquired a new stake in AFC Gamma during the third quarter valued at $140,000. Centiva Capital LP acquired a new stake in AFC Gamma during the third quarter valued at $193,000. Martingale Asset Management L P boosted its position in AFC Gamma by 24.1% during the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock valued at $172,000 after purchasing an additional 4,005 shares during the last quarter. Finally, Barclays PLC boosted its position in AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after purchasing an additional 16,245 shares during the last quarter. 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.