Robyn Tannenbaum Purchases 4,000 Shares of AFC Gamma, Inc. (NASDAQ:AFCG)

On March 17th, 2023, Robyn Tannenbaum, an insider at AFC Gamma, Inc. (NASDAQ:AFCG), made a noteworthy investment by purchasing 4,000 shares of the company's stock. The shares were acquired at an average price of $6.17 each, bringing the total value of the transaction to $24,680. Following this purchase, Tannenbaum now owns a total of 121,667 shares in AFC Gamma, which are currently valued at approximately $750,685.39. This transaction reflects a 3.40% increase in her ownership stake in the company. Details of the purchase were formally reported in a filing with the Securities and Exchange Commission (SEC).

Additionally, Tannenbaum had previously bought 4,000 shares of AFC Gamma on March 14th for an average price of $6.25 per share, totaling $25,000.00.

AFC Gamma Price Performance

On the trading day that followed Tannenbaum's recent acquisition, AFC Gamma's stock traded down by $0.32, ending the day at a price of $6.30. A total of 580,267 shares changed hands, significantly higher than the average trading volume of 167,861. Currently, AFC Gamma has a one-year low of $6.10 and a high of $13.28. The company shows strong financial metrics, including a current ratio of 3.92, a quick ratio of 3.92, and a relatively low debt-to-equity ratio of 0.29. Its 50-day and 200-day simple moving averages are $8.34 and $9.27, respectively. The market capitalization of AFC Gamma is approximately $138.30 million, with a price-to-earnings (P/E) ratio of 15.75 and a beta of 1.03.

Analyst Ratings Changes

Recently, various research analysts have provided updates regarding AFC Gamma's stock. JMP Securities maintained a "market perform" rating on January 23rd. In contrast, Jefferies Financial Group downgraded their rating from "buy" to "hold", and reduced the price target from $10.00 to $7.00 on March 14th. Alliance Global Partners also initiated coverage on AFC Gamma, issuing a "buy" rating with a price target of $13.00. Currently, three analysts hold a "hold" rating, while one has rated it as a buy, and another has given it a strong buy rating. Overall, the stock holds an average rating of "Moderate Buy", backed by a consensus price target of $9.67, as reported by MarketBeat.com.

Institutional Ownership Insights

Committed to the company's future, several institutional investors have recently modified their positions in AFC Gamma. Notably, McIlrath & Eck LLC acquired a new position valued at approximately $52,000 in the third quarter. GSA Capital Partners LLP followed suit with a new position worth about $140,000. Additionally, Martingale Asset Management L P increased its stake by 24.1% in the fourth quarter, now owning 20,623 shares valued at $172,000. Meanwhile, Centiva Capital LP bought a new stake worth roughly $193,000. Barclays PLC notably raised its position by a staggering 257.0% during the same quarter, now holding 22,567 shares worth $231,000. The total institutional ownership of AFC Gamma is reported at 26.53% of the company's stock.

About AFC Gamma

AFC Gamma, Inc. is a company that specializes in originating, structuring, underwriting, and investing in senior secured loans and various commercial real estate loans and debt securities, primarily focused on established businesses in the cannabis industry. They provide loans structured as senior loans, secured by real estate, equipment, licenses, and other assets of the borrowing parties, adhering to relevant laws and regulations.

AFCGamma, stocks, investment