Daniel Neville Purchases 30,349 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville bought 30,349 shares of the stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $6.52 per share, with a total value of $197,875.48. Following the completion of the purchase, the chief executive officer now directly owns 161,011 shares in the company, valued at approximately $1,049,791.72. This trade represents a 23.23 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, March 17th, Daniel Neville purchased 16,250 shares of AFC Gamma stock. The shares were purchased at an average cost of $6.32 per share, for a total transaction of $102,700.00.

AFC Gamma Trading Down 4.8 %

AFC Gamma stock traded down $0.32 during midday trading on Monday, hitting $6.30. 580,267 shares of the stock were exchanged, compared to its average volume of 167,861. The stock has a market capitalization of $138.30 million, a PE ratio of 15.75 and a beta of 1.03. The company has a fifty day simple moving average of $8.34 and a two-hundred day simple moving average of $9.27. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma, Inc. has a 52 week low of $6.10 and a 52 week high of $13.28.

Analyst Upgrades and Downgrades

AFCG has been the subject of several recent research reports. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Jefferies Financial Group lowered shares of AFC Gamma from a “buy” rating to a “hold” rating and lowered their target price for the stock from $10.00 to $7.00 in a report on Friday. Finally, Alliance Global Partners started coverage on AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.67.

Institutional Investors Weigh In On AFC Gamma

Several hedge funds have recently bought and sold shares of the company. McIlrath & Eck LLC acquired a new position in shares of AFC Gamma in the 3rd quarter valued at $52,000. GSA Capital Partners LLP acquired a new stake in AFC Gamma during the 3rd quarter worth $140,000. Martingale Asset Management L P lifted its holdings in AFC Gamma by 24.1% during the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock worth $172,000 after acquiring an additional 4,005 shares in the last quarter. Centiva Capital LP acquired a new position in AFC Gamma in the third quarter valued at about $193,000. Finally, Barclays PLC increased its holdings in shares of AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after acquiring an additional 16,245 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors and hedge funds.

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.