AFC Gamma (NASDAQ:AFCG) Director Purchases $54,650.57 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 15,223 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was purchased at an average cost of $3.59 per share, with a total value of $54,650.57. Following the purchase, the director directly owned 6,849,299 shares of the company’s stock, valued at $24,588,983.41. This trade represents a 0.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AFC Gamma Price Performance

Shares of NASDAQ AFCG opened at $3.57 on Monday. The company has a 50 day simple moving average of $3.05 and a 200 day simple moving average of $2.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $4.93. The firm has a market cap of $80.93 million, a PE ratio of 18.79 and a beta of 0.95.

AFC Gamma (NASDAQ:AFCG) last posted 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 for 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, research analysts forecast that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have commented on AFCG. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently 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.