AFC Gamma (NASDAQ:AFCG) Stock: Insider Leonard Tannenbaum Buys 3,471 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 3,471 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were purchased at an average cost of $3.49 per share, for a total transaction of $12,113.79. Following the transaction, the director owned 6,988,989 shares of the company’s stock, valued at $24,391,571.61. This trade represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

AFC Gamma Stock Performance

Shares of AFC Gamma stock traded down $0.02 during trading on Thursday, reaching $3.48. The company’s stock had a trading volume of 62,858 shares, compared to its average volume of 219,125. The company has a 50-day moving average price of $3.17 and a two-hundred day moving average price of $3.08. AFC Gamma Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $4.20. The firm has a market cap of $78.90 million, a PE ratio of 18.32 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 (NASDAQ:AFCG) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. On average, analysts forecast that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.7%. AFC Gamma’s dividend payout ratio (DPR) is currently 105.26%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AFCG shares. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

About AFC Gamma

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.