AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 46,000 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 46,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average price of $2.94 per share, for a total transaction of $135,240.00. Following the completion of the acquisition, the director owned 5,792,098 shares of the company’s stock, valued at approximately $17,028,768.12. The trade was a 0.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

AFC Gamma Stock Performance

Shares of AFCG traded up $0.09 during trading hours on Friday, hitting $2.98. The company had a trading volume of 14,192 shares, compared to its average volume of 222,034. The business has a fifty day moving average of $3.28 and a 200-day moving average of $4.17. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.13. The firm has a market cap of $67.22 million, a price-to-earnings ratio of -2.86 and a beta of 1.03. AFC Gamma Inc. has a 12 month low of $2.52 and a 12 month high of $9.71.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Wednesday, November 12th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of ($3.18) million for the quarter, compared to the consensus estimate of $6.55 million. AFC Gamma had a positive return on equity of 8.45% and a negative net margin of 70.46%. Equities analysts anticipate that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 20.2%. AFC Gamma’s dividend payout ratio (DPR) is -57.69%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AFCG. Alliance Global Partners downgraded AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 price target for the company. in a research note on Friday, August 15th. Zacks Research raised shares of AFC Gamma to a “hold” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AFC Gamma presently has a consensus rating of “Reduce” and an average price target of $5.75.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.