AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 15,018 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 15,018 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were purchased at an average cost of $2.60 per share, for a total transaction of $39,046.80. Following the completion of the purchase, the director directly owned 6,013,101 shares of the company’s stock, valued at approximately $15,634,062.60. The trade was a 0.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

AFC Gamma Stock Performance

NASDAQ:AFCG opened at $2.60 on Tuesday. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $6.82. The firm has a 50 day moving average of $2.43 and a 200-day moving average of $3.11. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $61.18 million, a P/E ratio of -2.74 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings results on Wednesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%.The business had revenue of $8.71 million for the quarter, compared to the consensus estimate of $5.36 million. As a group, sell-side analysts anticipate that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 7.7%. AFC Gamma’s payout ratio is currently -55.79%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AFCG shares. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. Zacks Research downgraded shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Sell” and an average target price of $4.50.

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.