AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 60,600 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 60,600 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of $2.59 per share, with a total value of $156,954.00. Following the completion of the transaction, the director owned 6,198,589 shares of the company’s stock, valued at $16,054,345.51. The trade was a 0.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AFC Gamma Trading Up 1.2%

AFCG stock opened at $2.77 on Friday. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $6.52. The stock has a market capitalization of $65.23 million, a price-to-earnings ratio of -2.92 and a beta of 1.02. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12. The firm’s fifty day simple moving average is $2.42 and its two-hundred day simple moving average is $3.09.

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

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 7.2%. The ex-dividend date is Tuesday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is -55.79%.

Analyst Ratings Changes

AFCG has been the subject of several research reports. Zacks Research cut shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus target price 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.