Weiss Ratings Reiterates "Sell (D)" Rating for AFC Gamma (NASDAQ:AFCG)

Key Points

• Weiss Ratings has restated its **"Sell (D)"** rating for AFC Gamma (NASDAQ:AFCG), reflecting ongoing concerns about the stock's performance.
• Alliance Global Partners downgraded AFC Gamma from a **"buy"** to a **"hold"** rating with a price target of **$4.50**.
• Insiders have been active, with CEO Daniel Neville and Director Leonard M. Tannenbaum increasing their holdings significantly, indicating potential confidence in the company's future.

AFC Gamma (NASDAQ:AFCG - Get Free Report)'s stock had its "sell (d)" rating restated by equities researchers at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Separately, Alliance Global Partners cut shares of 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. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $5.75.

AFC Gamma Price Performance

Shares of AFCG traded down $0.03 during mid-day trading on Friday, reaching $3.39. The stock had a trading volume of 71,636 shares, compared to its average volume of 226,543. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.13 and a current ratio of 3.13. The business has a fifty day moving average of $4.08 and a 200 day moving average of $4.63. AFC Gamma has a 12 month low of $3.20 and a 12 month high of $10.24. The firm has a market cap of $76.58 million, a price-to-earnings ratio of -8.27 and a beta of 1.04.

Insiders Place Their Bets

In other AFC Gamma news, CEO Daniel Neville acquired 12,388 shares of the company's stock in a transaction on Monday, September 8th. The shares were bought at an average cost of $4.44 per share, for a total transaction of $55,002.72. Following the acquisition, the chief executive officer directly owned 209,649 shares of the company's stock, valued at $930,841.56. This trade represents a 6.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leonard M. Tannenbaum acquired 330,127 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were bought at an average price of $4.81 per share, with a total value of $1,587,910.87. Following the completion of the purchase, the director owned 4,665,150 shares in the company, valued at $22,439,371.50. The trade was a 7.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,030,683 shares of company stock valued at $4,590,274. Company insiders own 25.10% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.