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

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

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

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

AFC Gamma Price Performance

Shares of AFCG opened at $6.39 on Thursday. AFC Gamma, Inc. has a 12-month low of $6.08 and a 12-month high of $13.28. The business’s fifty day moving average is $8.22 and its 200 day moving average is $9.19. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The stock has a market cap of $140.28 million, a P/E ratio of 15.98 and a beta of 1.03.

AFC Gamma Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 15th. Investors 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 dividend payout ratio is currently 115.00%.

Analyst Ratings Changes

Several analysts have recently commented on AFCG shares. JMP Securities reaffirmed 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 reduced their price objective for the stock from $10.00 to $7.00 in a research report on Friday, March 14th. Finally, Alliance Global Partners started coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company. Three 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.

Hedge Funds Weigh In On AFC Gamma

Several large investors have recently bought and sold shares of the stock. Martingale Asset Management L P lifted its stake in AFC Gamma by 24.1% during the 4th quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock valued at $172,000 after acquiring an additional 4,005 shares in the last quarter. Tidal Investments LLC lifted its stake in AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after acquiring an additional 85,655 shares in the last quarter. Barclays PLC lifted its stake in AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after acquiring an additional 16,245 shares in the last quarter. McIlrath & Eck LLC bought a new stake in shares of AFC Gamma during the 3rd quarter worth $52,000. Finally, Geode Capital Management LLC raised its stake 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 worth $248,000 after purchasing an additional 8,877 shares during the period. 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.