AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 29,000 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 29,000 shares of AFC Gamma stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average price of $2.44 per share, with a total value of $70,760.00. Following the completion of the purchase, the director directly owned 5,890,098 shares in the company, valued at $14,371,839.12. This trade represents a 0.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AFC Gamma Stock Performance

Shares of NASDAQ AFCG opened at $2.57 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45. The firm has a market cap of $60.47 million, a price-to-earnings ratio of -2.71 and a beta of 1.02. The stock’s fifty day moving average price is $2.46 and its two-hundred day moving average price is $3.17. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $8.55.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). The firm had revenue of $8.71 million for the quarter, compared to analyst estimates of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. On average, equities analysts forecast that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.05 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.20 annualized dividend and a yield of 7.8%. AFC Gamma’s payout ratio is -55.79%.

Wall Street Analysts Forecast Growth

AFCG has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. Zacks Research downgraded shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $5.75.

AFC Gamma Company Profile

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.