Insider Buying: AFC Gamma, Inc. (NASDAQ:AFCG) CEO Acquires 30,349 Shares of Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville purchased 30,349 shares of the business’s stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $6.52 per share, for a total transaction of $197,875.48. Following the purchase, the chief executive officer now owns 161,011 shares of the company’s stock, valued at approximately $1,049,791.72. This represents a 23.23 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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, for a total transaction of $102,700.00.

AFC Gamma Stock Down 4.8 %

AFCG stock traded down $0.32 during midday trading on Monday, hitting $6.30. The company’s stock had a trading volume of 580,267 shares, compared to its average volume of 167,861. The company’s fifty day moving average price is $8.34 and its 200 day moving average price is $9.27. 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 twelve month low of $6.10 and a twelve month high of $13.28. The stock has a market capitalization of $138.30 million, a P/E ratio of 15.75 and a beta of 1.03.

Analyst Ratings Changes

A number of brokerages recently weighed in on AFCG. 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 target price for the company. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded 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 report on Friday. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AFC Gamma has a consensus rating of “Moderate Buy” and an average price target of $9.67.

Institutional Trading of AFC Gamma

A number of hedge funds and other institutional investors have recently modified their holdings of AFCG. Tidal Investments LLC lifted its stake in AFC Gamma by 19.7% in the third 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 during the last quarter. Centiva Capital LP bought a new stake in shares of AFC Gamma in the 3rd quarter valued at about $193,000. Barclays PLC lifted its stake 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 purchasing an additional 16,245 shares during the last quarter. Penserra Capital Management LLC grew its holdings in AFC Gamma by 22.9% during the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after purchasing an additional 14,570 shares during the period. Finally, GSA Capital Partners LLP bought a new position in AFC Gamma during the third quarter worth about $140,000. Institutional investors and hedge funds 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.