AFC Gamma (NASDAQ:AFCG) Insider Robyn Tannenbaum Buys 10,000 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was purchased at an average price of $3.09 per share, for a total transaction of $30,900.00. Following the transaction, the insider directly owned 236,907 shares of the company’s stock, valued at approximately $732,042.63. This trade represents a 4.41% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Trading Up 8.2%

Shares of NASDAQ:AFCG traded up $0.26 during midday trading on Monday, hitting $3.43. 90,978 shares of the stock traded hands, compared to its average volume of 195,765. 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’s 50 day moving average is $3.30 and its two-hundred day moving average is $2.97. The stock has a market capitalization of $77.76 million, a PE ratio of 3.30 and a beta of 1.00. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $3.84.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Thursday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.12. AFC Gamma had a return on equity of 4.62% and a net margin of 71.50%. The company had revenue of $8.57 million for the quarter, compared to analysts’ expectations of $8.30 million. As a group, research analysts forecast that AFC Gamma Inc. will post 0.71 earnings per share for the current year.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. AFC Gamma’s payout ratio is 19.23%.

Wall Street Analyst Weigh In

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

About AFC Gamma

AFC Gamma, Inc is a specialty finance company focused primarily on providing institutional debt financing to businesses operating in the regulated cannabis industry. The company has historically targeted established cannabis operators and other participants in the industry that may have limited access to traditional bank financing.

Its financing activities have included senior secured loans, mortgage-backed loans and other structured debt arrangements. Borrowers may use these funds to support the acquisition, development or expansion of cannabis cultivation, processing, manufacturing and retail facilities, as well as related working-capital and corporate needs.

AFC Gamma was founded in 2019 and became a publicly traded company in 2021.