AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 19,404 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 19,404 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average price of $3.41 per share, with a total value of $66,167.64. Following the completion of the purchase, the director directly owned 6,699,849 shares in the company, valued at $22,846,485.09. This represents a 0.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

AFC Gamma Stock Up 4.7%

NASDAQ:AFCG opened at $3.60 on Friday. 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 twelve month low of $2.06 and a twelve month high of $5.00. The company has a market cap of $81.61 million, a PE ratio of 18.95 and a beta of 0.91. The company’s 50 day moving average is $3.00 and its two-hundred day moving average is $2.92.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The firm 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%. Analysts anticipate that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given 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%.

Analysts Set New Price Targets

Several research firms have commented on AFCG. Weiss Ratings upgraded AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. Wall Street Zen lowered shares of 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 issued a Sell rating to the company. According to MarketBeat, AFC Gamma 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.