Leonard Tannenbaum Buys 34,288 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 34,288 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average price of $2.59 per share, with a total value of $88,805.92. Following the purchase, the director owned 6,047,389 shares of the company’s stock, valued at approximately $15,662,737.51. This represents a 0.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

AFC Gamma Stock Down 1.1%

NASDAQ:AFCG traded down $0.03 during trading hours on Monday, hitting $2.60. The company’s stock had a trading volume of 223,840 shares, compared to its average volume of 351,375. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $6.82. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $61.18 million, a P/E ratio of -2.74 and a beta of 1.02. The stock has a fifty day moving average of $2.44 and a 200-day moving average of $3.12.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). The business had revenue of $8.71 million for the quarter, compared to analysts’ expectations 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 earnings per share for the current year.

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.20 annualized dividend and a yield of 7.7%. AFC Gamma’s payout ratio is presently -55.79%.

Analysts Set New Price Targets

Several equities analysts have commented on AFCG shares. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. Zacks Research cut shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Sell” and an average price target of $4.50.

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.