Leonard Tannenbaum Purchases 35,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was bought at an average cost of $3.46 per share, for a total transaction of $121,100.00. Following the purchase, the director owned 6,884,299 shares in the company, valued at $23,819,674.54. This represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Price Performance

AFC Gamma stock traded up $0.16 during mid-day trading on Friday, hitting $3.55. 62,320 shares of the company were exchanged, compared to its average volume of 227,159. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $3.07 and a 200 day moving average of $3.01. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $4.70. The company has a market capitalization of $80.48 million, a PE ratio of 18.68 and a beta of 0.95.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The company had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. As a group, sell-side analysts expect that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma’s dividend payout ratio (DPR) is currently 105.26%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wall Street Zen cut shares of AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

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.