Leonard Tannenbaum Acquires 25,198 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 25,198 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of $3.50 per share, with a total value of $88,193.00. Following the completion of the acquisition, the director owned 6,924,497 shares of the company’s stock, valued at approximately $24,235,739.50. The trade was a 0.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AFC Gamma Stock Down 1.4%

AFCG opened at $3.47 on Thursday. The business has a 50 day moving average of $3.11 and a 200-day moving average of $3.04. The stock has a market capitalization of $78.66 million, a price-to-earnings ratio of 18.26 and a beta of 0.95. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $4.58.

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

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. AFC Gamma’s payout ratio is presently 105.26%.

Wall Street Analyst Weigh In

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

AFC Gamma Company Profile

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.