Daniel Neville Acquires 17,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) CEO Daniel Neville purchased 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were purchased at an average price of $2.81 per share, for a total transaction of $47,770.00. Following the completion of the acquisition, the chief executive officer directly owned 226,649 shares in the company, valued at $636,883.69. The trade was a 8.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

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

AFC Gamma Trading Down 6.6%

Shares of AFCG stock traded down $0.20 on Tuesday, reaching $2.82. 332,353 shares of the company’s stock were exchanged, compared to its average volume of 146,976. The company’s fifty day simple moving average is $3.66 and its 200 day simple moving average is $4.37. AFC Gamma Inc. has a 52 week low of $2.75 and a 52 week high of $9.93. The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $63.70 million, a PE ratio of -2.71 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG) last released its earnings results 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 business had revenue of ($3.18) million during the quarter, compared to analysts’ expectations of $6.55 million. AFC Gamma had a positive return on equity of 8.45% and a negative net margin of 70.46%. As a group, analysts forecast that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 21.3%. AFC Gamma’s dividend payout ratio (DPR) is presently -57.69%.

Analyst Ratings Changes

A number of brokerages have recently commented on AFCG. Alliance Global Partners lowered shares of AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 target price on the stock. in a research report on Friday, August 15th. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, October 8th. Finally, Zacks Research raised AFC Gamma to a “hold” rating in a research report on Thursday, November 13th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AFC Gamma has an average rating of “Reduce” and a consensus target price 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.