Daniel Neville Acquires 12,388 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) CEO Daniel Neville purchased 12,388 shares of AFC Gamma stock in a transaction dated Monday, September 8th. The shares were purchased at an average price of $4.44 per share, with a total value of $55,002.72. Following the completion of the acquisition, the chief executive officer owned 209,649 shares in the company, valued at $930,841.56. The trade was a 6.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, August 25th, Daniel Neville purchased 10,000 shares of AFC Gamma stock. The shares were purchased at an average price of $4.04 per share, with a total value of $40,400.00.

AFC Gamma Stock Up 5.7%

Shares of AFC Gamma stock opened at $4.81 on Wednesday. The firm has a market cap of $108.66 million, a price-to-earnings ratio of -11.73 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.13 and a quick ratio of 3.13. AFC Gamma Inc. has a 52-week low of $3.44 and a 52-week high of $10.88. The stock has a 50-day simple moving average of $4.49 and a 200-day simple moving average of $5.30.

AFC Gamma Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 12.5%. The ex-dividend date was Monday, June 30th. AFC Gamma’s payout ratio is currently -146.34%.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners lowered AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 price target for the company. in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, AFC Gamma currently has an average rating of “Moderate Buy” and an average target price of $5.75.

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.