Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Buys $121,100.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were purchased at an average cost of $3.46 per share, with a total value of $121,100.00. Following the acquisition, the director directly owned 6,884,299 shares of the company’s stock, valued at approximately $23,819,674.54. This trade represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AFC Gamma Price Performance

Shares of NASDAQ:AFCG opened at $3.55 on Monday. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $4.70. The company’s 50 day moving average is $3.08 and its 200 day moving average is $3.02. 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 $80.48 million, a PE ratio of 18.68 and a beta of 0.95.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The business had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. On average, sell-side analysts forecast that AFC Gamma Inc. will post 0.72 EPS for the current year.

Analysts Set New Price Targets

AFCG has been the topic of several analyst reports. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.