AFC Gamma (NASDAQ:AFCG) CEO Acquires $55,002.72 in Stock

Key Points

• AFC Gamma CEO Daniel Neville purchased 12,388 shares of the company's stock at an average price of $4.44 per share, totaling $55,002.72, increasing his stake by 6.28% to approximately $930,841.56.
• The company's stock experienced a slight decline of 0.7%, trading at $4.55, with a market cap of $102.81 million and a PE ratio of -11.10.
• Alliance Global Partners downgraded AFC Gamma shares from "buy" to "hold," setting a new price target of $4.50, indicating a cautious outlook on the stock.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) CEO Daniel Neville purchased 12,388 shares of the firm's stock in a transaction on Monday, September 8th. The stock was acquired at an average price of $4.44 per share, with a total value of $55,002.72. Following the completion of the transaction, the chief executive officer owned 209,649 shares in the company, valued at approximately $930,841.56. This trade represents a 6.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, August 25th, Daniel Neville purchased 10,000 shares of AFC Gamma stock. The stock was acquired at an average price of $4.04 per share, with a total value of $40,400.00.

AFC Gamma Trading Down 0.7%

NASDAQ AFCG traded down $0.03 on Monday, hitting $4.55. The company's stock had a trading volume of 243,275 shares, compared to its average volume of 221,795. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.06. AFC Gamma Inc. has a 1-year low of $3.44 and a 1-year high of $10.88. The company's 50-day moving average is $4.48 and its 200 day moving average is $5.33. The firm has a market cap of $102.81 million, a PE ratio of -11.10 and a beta of 1.07.

AFC Gamma Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 13.2%. The ex-dividend date was Monday, June 30th. AFC Gamma's dividend payout ratio is -146.34%.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners cut shares of AFC Gamma from a "buy" rating to a "hold" rating and set a $4.50 price target for the company. in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

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.

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