AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 30,000 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 30,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was bought at an average cost of $3.41 per share, with a total value of $102,300.00. Following the transaction, the director owned 6,650,445 shares in the company, valued at $22,678,017.45. This trade represents a 0.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

AFC Gamma Stock Performance

AFCG traded up $0.06 during mid-day trading on Wednesday, reaching $3.45. 67,695 shares of the company traded hands, compared to its average volume of 235,899. The stock has a market capitalization of $78.21 million, a P/E ratio of 18.16 and a beta of 0.91. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company’s fifty day moving average price is $2.99 and its 200-day moving average price is $2.90. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $5.10.

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

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.8%. AFC Gamma’s dividend payout ratio is currently 105.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AFCG shares. Weiss Ratings upgraded AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. Wall Street Zen downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

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.