Leonard Tannenbaum Buys 102,213 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 102,213 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was bought at an average price of $2.54 per share, for a total transaction of $259,621.02. Following the acquisition, the director owned 5,993,581 shares in the company, valued at $15,223,695.74. The trade was a 1.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

AFC Gamma Price Performance

Shares of NASDAQ AFCG opened at $2.63 on Friday. The stock has a market capitalization of $61.88 million, a PE ratio of -2.77 and a beta of 1.02. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average of $2.44 and a 200-day moving average of $3.15. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $8.39.

AFC Gamma (NASDAQ:AFCG) last issued its 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 positive return on equity of 0.99% and a negative net margin of 70.17%.The firm had revenue of $8.71 million during the quarter, compared to analysts’ expectations of $5.36 million. On average, analysts anticipate that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Tuesday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is -55.79%.

Analyst Upgrades and Downgrades

AFCG has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, January 21st. Zacks Research cut shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, AFC Gamma presently has an average rating of “Reduce” and a consensus price target 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.