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 AFC Gamma stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average price of $6.20 per share, with a total value of $310,000.00. Following the transaction, the director now owns 3,959,876 shares in the company, valued at approximately $24,551,231.20. The trade was a 1.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AFC Gamma Price Performance

Shares of NASDAQ:AFCG traded down $0.32 during midday trading on Monday, hitting $6.30. The company had a trading volume of 580,267 shares, compared to its average volume of 167,861. AFC Gamma, Inc. has a twelve month low of $6.10 and a twelve month high of $13.28. The stock has a market cap of $138.30 million, a price-to-earnings ratio of 15.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. The business’s 50-day simple moving average is $8.34 and its 200-day simple moving average is $9.27.

Institutional Trading of AFC Gamma

Large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new stake in shares of AFC Gamma during the 3rd quarter worth approximately $140,000. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $515,000 after purchasing an additional 2,200 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of AFC Gamma by 22.9% during the 3rd 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. Centiva Capital LP acquired a new stake in shares of AFC Gamma during the 3rd quarter worth about $193,000. Finally, State Street Corp lifted its position in AFC Gamma by 2.8% in the third quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after buying an additional 10,320 shares during the last quarter. 26.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on AFCG. Alliance Global Partners assumed coverage on AFC Gamma in a report on Tuesday, December 17th. They set a “buy” rating and a $13.00 target price for the company. Jefferies Financial Group downgraded AFC Gamma from a “buy” rating to a “hold” rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Friday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. 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 stock. According to data from MarketBeat.com, AFC Gamma 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.