AFC Gamma (NASDAQ:AFCG) Director Acquires $39,046.80 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 15,018 shares of the stock in a transaction on Friday, March 13th. The shares were acquired at an average cost of $2.60 per share, with a total value of $39,046.80. Following the purchase, the director owned 6,013,101 shares of the company’s stock, valued at approximately $15,634,062.60. This represents a 0.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Price Performance

Shares of AFCG stock traded down $0.03 on Monday, reaching $2.60. The company had a trading volume of 223,840 shares, compared to its average volume of 351,375. The business’s 50-day moving average is $2.44 and its 200 day moving average is $3.12. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $6.82. 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 stock has a market capitalization of $61.18 million, a PE ratio of -2.74 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.18). The company had revenue of $8.71 million for the quarter, compared to the consensus estimate of $5.36 million. AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. Equities research analysts forecast that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.05 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 7.7%. AFC Gamma’s dividend payout ratio (DPR) is currently -55.79%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AFCG shares. Zacks Research downgraded shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Sell” and an average price target of $4.50.

AFC Gamma Company Profile

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.