Leonard Tannenbaum Buys 53,273 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 53,273 shares of the company’s stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $3.60 per share, with a total value of $191,782.80. Following the completion of the purchase, the director directly owned 6,834,076 shares in the company, valued at $24,602,673.60. This trade represents a 0.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

AFC Gamma Trading Up 2.3%

AFC Gamma stock opened at $3.57 on Thursday. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $4.93. The firm’s 50 day moving average price is $3.03 and its 200-day moving average price is $2.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $80.93 million, a P/E ratio of 18.79 and a beta of 0.95.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. On average, equities analysts predict that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma’s payout ratio is 105.26%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AFCG. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AFC Gamma has a consensus rating of “Reduce”.

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.