Leonard Tannenbaum Buys 15,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 15,000 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was acquired at an average cost of $2.88 per share, for a total transaction of $43,200.00. Following the completion of the acquisition, the director directly owned 5,707,098 shares in the company, valued at approximately $16,436,442.24. The trade was a 0.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

AFC Gamma Stock Performance

Shares of AFCG stock traded up $0.08 on Wednesday, hitting $2.96. The company had a trading volume of 265,045 shares, compared to its average volume of 197,274. AFC Gamma Inc. has a twelve month low of $2.52 and a twelve month high of $9.71. 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 $66.87 million, a P/E ratio of -2.85 and a beta of 1.03. The company has a 50-day moving average price of $3.31 and a 200-day moving average price of $4.17.

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

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given 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 yield of 20.3%. AFC Gamma’s dividend payout ratio is currently -57.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of AFC Gamma to a “hold” rating in a research report on Thursday, November 13th. Alliance Global Partners cut shares of 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company 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.