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

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

AFC Gamma Stock Up 2.9 %

Shares of NASDAQ:AFCG opened at $6.48 on Wednesday. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma, Inc. has a 12 month low of $6.08 and a 12 month high of $13.28. The company has a 50-day moving average price of $8.26 and a 200 day moving average price of $9.21. The company has a market cap of $142.26 million, a price-to-earnings ratio of 16.20 and a beta of 1.03.

AFC Gamma Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Martingale Asset Management L P lifted its holdings in shares of AFC Gamma by 24.1% in 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 during the last quarter. Tidal Investments LLC raised 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 worth $5,305,000 after purchasing an additional 85,655 shares during the period. Barclays PLC raised its position in AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares during the period. McIlrath & Eck LLC purchased a new stake in AFC Gamma in the 3rd quarter worth about $52,000. Finally, Geode Capital Management LLC raised its position in AFC Gamma by 57.8% in 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. Institutional investors own 26.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AFCG. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Jefferies Financial Group downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.00 to $7.00 in a report on Friday, March 14th. Finally, Alliance Global Partners began coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company. Three investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.67.

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.