Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Acquires $88,193.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 25,198 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average cost of $3.50 per share, for a total transaction of $88,193.00. Following the completion of the purchase, the director owned 6,924,497 shares of the company’s stock, valued at $24,235,739.50. This represents a 0.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Stock Performance

AFCG opened at $3.47 on Friday. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $4.58. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market cap of $78.66 million, a P/E ratio of 18.26 and a beta of 0.95. The company has a fifty day moving average price of $3.12 and a two-hundred day moving average price of $3.05.

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 the consensus estimate 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 predict that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. AFC Gamma’s dividend payout ratio is 105.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AFCG. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

About AFC Gamma

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.