Insider Buying: AFC Gamma (NASDAQ:AFCG) CEO Purchases $47,770.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) CEO Daniel Neville acquired 17,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were bought at an average price of $2.81 per share, with a total value of $47,770.00. Following the completion of the transaction, the chief executive officer owned 226,649 shares in the company, valued at $636,883.69. This represents a 8.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, September 8th, Daniel Neville acquired 12,388 shares of AFC Gamma stock. The stock was purchased at an average cost of $4.44 per share, with a total value of $55,002.72.
• On Monday, August 25th, Daniel Neville bought 10,000 shares of AFC Gamma stock. The shares were acquired at an average cost of $4.04 per share, for a total transaction of $40,400.00.

AFC Gamma Trading Down 7.7%

Shares of NASDAQ AFCG opened at $2.53 on Friday. The firm has a 50 day moving average price of $3.59 and a two-hundred day moving average price of $4.35. The stock has a market cap of $57.15 million, a P/E ratio of -2.43 and a beta of 1.02. AFC Gamma Inc. has a 52-week low of $2.52 and a 52-week high of $9.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.04 and a current ratio of 3.04.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The company had revenue of ($3.18) million during the quarter, compared to analyst estimates of $6.55 million. AFC Gamma had a negative net margin of 70.46% and a positive return on equity of 8.45%. As a group, equities analysts forecast that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 23.7%. The ex-dividend date of this dividend was Tuesday, September 30th. AFC Gamma’s payout ratio is currently -57.69%.

Analysts Set New Price Targets

AFCG has been the topic of several recent research reports. Alliance Global Partners lowered AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 price target on the stock. in a report on Friday, August 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of AFC Gamma to a “hold” rating in a report on Thursday, November 13th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $5.75.

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.