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

AFC Gamma, Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum bought 4,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were acquired at an average cost of $6.17 per share, for a total transaction of $24,680.00. Following the transaction, the insider now directly owns 121,667 shares in the company, valued at approximately $750,685.39. This trade represents a 3.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, March 14th, Robyn Tannenbaum purchased 4,000 shares of AFC Gamma stock. The shares were bought at an average price of $6.25 per share, for a total transaction of $25,000.00.

AFC Gamma Stock Down 4.8 %

NASDAQ AFCG traded down $0.32 on Monday, hitting $6.30. 580,267 shares of the stock were exchanged, compared to its average volume of 167,861. 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 company has a 50-day moving average price of $8.34 and a 200-day moving average price of $9.27. The company has a market cap of $138.30 million, a PE ratio of 15.75 and a beta of 1.03. AFC Gamma, Inc. has a fifty-two week low of $6.10 and a fifty-two week high of $13.28.

Institutional Investors Weigh In On AFC Gamma

Several institutional investors have recently added to or reduced their stakes in AFCG. Tidal Investments LLC raised its holdings in AFC Gamma by 19.7% during the third 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 in the last quarter. Centiva Capital LP purchased a new stake in AFC Gamma in the third quarter valued at $193,000. Barclays PLC boosted its stake in AFC Gamma by 257.0% in the third 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. Penserra Capital Management LLC boosted its stake in AFC Gamma by 22.9% in the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after acquiring an additional 14,570 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of AFC Gamma during the third quarter worth about $140,000. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AFCG. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Jefferies Financial Group lowered AFC Gamma from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $10.00 to $7.00 in a research report on Friday. Finally, Alliance Global Partners initiated coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 target price on the stock. Three investment 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. Based on data from MarketBeat, AFC Gamma has a consensus rating of “Moderate Buy” and a consensus 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.