Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Purchases $140,236.74 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 45,829 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $3.06 per share, for a total transaction of $140,236.74. Following the purchase, the director directly owned 6,562,604 shares in the company, valued at $20,081,568.24. This trade represents a 0.70% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AFC Gamma Price Performance

Shares of NASDAQ AFCG opened at $3.58 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a fifty day moving average of $2.99 and a 200 day moving average of $2.87. The firm has a market cap of $81.16 million, a PE ratio of 18.84 and a beta of 0.91. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $5.10.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. The business had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. As a group, research analysts predict that AFC Gamma Inc. will post 0.78 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.6%. The ex-dividend date was Tuesday, June 30th. AFC Gamma’s payout ratio is presently 105.26%.

Analyst Ratings Changes

AFCG has been the subject of a number of research analyst reports. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research note on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

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.