Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Buys 60,600 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 60,600 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were acquired at an average price of $2.59 per share, with a total value of $156,954.00. Following the purchase, the director directly owned 6,198,589 shares of the company’s stock, valued at approximately $16,054,345.51. This trade represents a 0.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

AFC Gamma Stock Performance

AFCG stock traded up $0.06 during trading on Thursday, hitting $2.74. The company had a trading volume of 274,422 shares, compared to its average volume of 346,161. The firm has a 50-day moving average price of $2.43 and a 200-day moving average price of $3.09. 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 market cap of $64.47 million, a PE ratio of -2.88 and a beta of 1.02. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $6.52.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $8.71 million for the quarter, compared to analyst estimates of $5.36 million. On average, analysts expect that AFC Gamma Inc. will post 1.64 earnings per share for the current year.

AFC Gamma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders 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 dividend yield of 7.3%. AFC Gamma’s dividend payout ratio (DPR) is currently -55.79%.

Wall Street Analysts Forecast Growth

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