AFC Gamma (NASDAQ:AFCG) Director Buys $70,760.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 29,000 shares of the stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $2.44 per share, for a total transaction of $70,760.00. Following the acquisition, the director directly owned 5,890,098 shares of the company’s stock, valued at approximately $14,371,839.12. This represents a 0.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

AFC Gamma Price Performance

AFCG stock traded down $0.05 during mid-day trading on Monday, hitting $2.57. The company had a trading volume of 681,124 shares, compared to its average volume of 369,494. The company has a market capitalization of $60.47 million, a price-to-earnings ratio of -2.71 and a beta of 1.02. The company has a 50-day moving average price of $2.47 and a 200 day moving average price of $3.18. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $8.55.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.18). AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. The firm had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $5.36 million. On average, research analysts anticipate that AFC Gamma Inc. will post 1.64 earnings per share for the current year.

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 7.8%. AFC Gamma’s dividend payout ratio is -21.05%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AFCG. Zacks Research downgraded shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a report on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.75.

About AFC Gamma

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.