Robyn Tannenbaum Purchases 4,000 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum acquired 4,000 shares of AFC Gamma stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $6.25 per share, for a total transaction of $25,000.00. Following the purchase, the insider now owns 117,667 shares of the company’s stock, valued at $735,418.75. The trade was a 3.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 17th, Robyn Tannenbaum acquired 4,000 shares of AFC Gamma stock. The stock was acquired at an average cost of $6.17 per share, for a total transaction of $24,680.00.

AFC Gamma Price Performance

AFCG stock opened at $6.48 on Wednesday. The stock has a market capitalization of $142.26 million, a PE ratio of 16.20 and a beta of 1.03. The company’s 50-day moving average is $8.26 and its 200-day moving average is $9.21. 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 1 year low of $6.08 and a 1 year high of $13.28.

AFC Gamma Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is presently 115.00%.

Institutional Investors Weigh In On AFC Gamma

A number of institutional investors and hedge funds have recently made changes to their positions in AFCG. GSA Capital Partners LLP acquired a new stake in shares of AFC Gamma in the 3rd quarter worth about $140,000. Charles Schwab Investment Management Inc. raised its holdings in shares of AFC Gamma by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after acquiring an additional 2,200 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of AFC Gamma by 22.9% in the 3rd quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after acquiring an additional 14,570 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of AFC Gamma in the 3rd quarter worth about $193,000. Finally, State Street Corp raised its holdings in shares of AFC Gamma by 2.8% in the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after acquiring an additional 10,320 shares during the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AFCG shares. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Jefferies Financial Group cut 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 note on Friday, March 14th. Finally, Alliance Global Partners assumed coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target on the stock. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AFC Gamma currently has a consensus 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.