Leonard M. Tannenbaum Purchases 50,000 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCG) Director Leonard M. Tannenbaum bought 50,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was purchased at an average price of $6.20 per share, with a total value of $310,000.00. Following the completion of the acquisition, the director now owns 3,959,876 shares of the company’s stock, valued at approximately $24,551,231.20. This trade represents a 1.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Trading Down 4.8 %

Shares of AFCG stock opened at $6.30 on Tuesday. AFC Gamma, Inc. has a 1 year low of $6.08 and a 1 year high of $13.28. The firm’s fifty day simple moving average is $8.30 and its 200 day simple moving average is $9.24. The firm has a market capitalization of $138.30 million, a P/E ratio of 15.75 and a beta of 1.03. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29.

Wall Street Analysts Forecast Growth

AFCG has been the subject of several recent analyst reports. Alliance Global Partners initiated coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price for the company. Jefferies Financial Group cut shares of 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 research note on Friday. Finally, JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AFC Gamma currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.67.

Hedge Funds Weigh In On AFC Gamma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC increased its holdings in AFC Gamma by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after buying an additional 85,655 shares during the period. Centiva Capital LP acquired a new stake in shares of AFC Gamma in the 3rd quarter valued at $193,000. Barclays PLC lifted its position in AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after buying an additional 16,245 shares in the last quarter. Penserra Capital Management LLC lifted its position in 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 buying an additional 14,570 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in AFC Gamma during the 3rd quarter worth about $140,000. Institutional investors own 26.53% of the company’s stock.

About AFC Gamma

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.