Leonard M. Tannenbaum Buys 32,007 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum acquired 32,007 shares of AFC Gamma stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $6.52 per share, with a total value of $208,685.64. Following the transaction, the director now owns 3,909,876 shares of the company’s stock, valued at approximately $25,492,391.52. The trade was a 0.83 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

AFC Gamma Price Performance

NASDAQ AFCG opened at $6.30 on Tuesday. AFC Gamma, Inc. has a twelve month low of $6.08 and a twelve month high of $13.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The stock has a market capitalization of $138.30 million, a PE ratio of 15.75 and a beta of 1.03. The stock has a 50-day simple moving average of $8.30 and a 200 day simple moving average of $9.24.

Hedge Funds Weigh In On AFC Gamma

Several large investors have recently made changes to their positions in AFCG. Tidal Investments LLC lifted its position in shares of AFC Gamma by 19.7% during the 3rd 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 during the last quarter. Centiva Capital LP acquired a new position in shares of AFC Gamma during the 3rd quarter worth about $193,000. Barclays PLC increased its stake in AFC Gamma by 257.0% during 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 during the period. Penserra Capital Management LLC increased its stake in AFC Gamma by 22.9% during 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 during the period. Finally, GSA Capital Partners LLP bought a new position in AFC Gamma during the third quarter valued at about $140,000. Institutional investors and hedge funds own 26.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Jefferies Financial Group cut AFC Gamma from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.00 to $7.00 in a research report on Friday. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Finally, Alliance Global Partners assumed coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target for the company. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.