AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 15,000 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 15,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were purchased at an average cost of $2.88 per share, with a total value of $43,200.00. Following the completion of the purchase, the director directly owned 5,707,098 shares in the company, valued at approximately $16,436,442.24. This represents a 0.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

AFC Gamma Stock Up 1.0%

AFC Gamma stock opened at $2.99 on Thursday. The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.13. AFC Gamma Inc. has a 1-year low of $2.52 and a 1-year high of $9.71. The firm’s fifty day simple moving average is $3.31 and its 200-day simple moving average is $4.17. The company has a market capitalization of $67.54 million, a P/E ratio of -2.88 and a beta of 1.03.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). AFC Gamma had a negative net margin of 70.46% and a positive return on equity of 8.45%. The firm had revenue of ($3.18) million during the quarter, compared to the consensus estimate of $6.55 million. Sell-side analysts forecast that AFC Gamma Inc. will post 1.64 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 20.1%. AFC Gamma’s dividend payout ratio (DPR) is -57.69%.

Analyst Upgrades and Downgrades

AFCG has been the subject of a number of recent research reports. Alliance Global Partners downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 price target for the company. in a research note on Friday, August 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of AFC Gamma to a “hold” rating in a research report on Thursday, November 13th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $5.75.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.