AFC Gamma, Inc. (NASDAQ:AFCG) Insider Acquires $24,680.00 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum acquired 4,000 shares of the stock in a transaction dated Monday, March 17th. The stock was acquired at an average cost of $6.17 per share, with a total value of $24,680.00. Following the transaction, the insider now owns 121,667 shares of the company’s stock, valued at approximately $750,685.39. This trade represents a 3.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, March 14th, Robyn Tannenbaum acquired 4,000 shares of AFC Gamma stock. The stock was acquired at an average cost of $6.25 per share, with a total value of $25,000.00.

AFC Gamma Trading Down 4.8 %

Shares of AFCG opened at $6.30 on Tuesday. The stock’s 50-day moving average is $8.30 and its two-hundred day moving average is $9.24. The stock 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 12 month low of $6.08 and a 12 month high of $13.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AFCG. McIlrath & Eck LLC acquired a new position in shares of AFC Gamma during the third quarter worth about $52,000. GSA Capital Partners LLP purchased a new stake in shares of AFC Gamma during the third quarter worth about $140,000. Martingale Asset Management L P increased its position in shares of 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 during the last quarter. Centiva Capital LP purchased a new stake in shares of AFC Gamma during the third quarter worth about $193,000. Finally, Barclays PLC increased its position in shares of AFC Gamma by 257.0% during 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 during the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AFCG. Jefferies Financial Group cut AFC Gamma from a “buy” rating to a “hold” rating and reduced their target price for the company from $10.00 to $7.00 in a report on Friday. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Finally, Alliance Global Partners began coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price on the stock. Three 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. Based on data from MarketBeat, AFC Gamma currently 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.