AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 24,000 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were purchased at an average price of $2.83 per share, with a total value of $67,920.00. Following the completion of the transaction, the director directly owned 5,816,098 shares of the company’s stock, valued at $16,459,557.34. This represents a 0.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

AFC Gamma Price Performance

AFCG stock traded up $0.05 during midday trading on Wednesday, reaching $3.08. The stock had a trading volume of 192,427 shares, compared to its average volume of 222,475. AFC Gamma Inc. has a 52-week low of $2.52 and a 52-week high of $9.66. The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $3.22 and its 200 day simple moving average is $4.11. The company has a market cap of $69.58 million, a price-to-earnings ratio of -2.96 and a beta of 1.03.

AFC Gamma (NASDAQ:AFCG) last issued its 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). The business had revenue of ($3.18) million during the quarter, compared to analyst estimates of $6.55 million. AFC Gamma had a negative net margin of 70.46% and a positive return on equity of 8.45%. As a group, sell-side analysts predict that AFC Gamma Inc. will post 1.64 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 19.5%. The ex-dividend date was Tuesday, September 30th. AFC Gamma’s payout ratio is currently -57.69%.

Analyst Ratings Changes

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

AFC Gamma Company Profile

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.