AFC Gamma (NASDAQ:AFCG) Insider Robyn Tannenbaum Purchases 10,000 Shares of Company Stock

AFC Gamma Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum bought 10,000 shares of the stock in a transaction on Friday, November 6th. The stock was purchased at an average price of $3.09 per share, for a total transaction of $30,900.00. Following the completion of the purchase, the insider owned 236,907 shares of the company’s stock, valued at approximately $732,042.63. This trade represents a 4.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $3.43 on Tuesday. The stock has a market capitalization of $77.76 million, a P/E ratio of 3.30 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average is $3.29 and its 200 day moving average is $2.98. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $3.84.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. The business had revenue of $8.57 million for the quarter, compared to analysts’ expectations of $8.30 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. On average, sell-side analysts anticipate that AFC Gamma Inc. will post 0.71 earnings per share for the current year.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. AFC Gamma’s dividend payout ratio is currently 19.23%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AFCG shares. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a research 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 research 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, the company currently has an average rating of “Reduce”.

About AFC Gamma

AFC Gamma, Inc is a specialty finance company focused primarily on providing institutional debt financing to businesses operating in the regulated cannabis industry. The company has historically targeted established cannabis operators and other participants in the industry that may have limited access to traditional bank financing.

Its financing activities have included senior secured loans, mortgage-backed loans and other structured debt arrangements. Borrowers may use these funds to support the acquisition, development or expansion of cannabis cultivation, processing, manufacturing and retail facilities, as well as related working-capital and corporate needs.

AFC Gamma was founded in 2019 and became a publicly traded company in 2021.