Leonard Tannenbaum Acquires 29,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 29,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average cost of $2.44 per share, for a total transaction of $70,760.00. Following the completion of the acquisition, the director directly owned 5,890,098 shares in the company, valued at $14,371,839.12. The trade was a 0.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Stock Performance

NASDAQ AFCG opened at $2.64 on Wednesday. The company has a market capitalization of $62.12 million, a PE ratio of -2.78 and a beta of 1.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.45 and a current ratio of 3.45. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $8.55. The company has a 50-day simple moving average of $2.45 and a 200 day simple moving average of $3.16.

AFC Gamma (NASDAQ:AFCG) last released its earnings results 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 negative net margin of 70.17% and a positive return on equity of 0.99%. The company had revenue of $8.71 million during the quarter, compared to analysts’ expectations of $5.36 million. On average, research analysts predict that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma’s dividend payout ratio is -55.79%.

Analysts Set New Price Targets

AFCG has been the topic of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. Zacks Research downgraded AFC Gamma from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, AFC Gamma presently has an average rating of “Reduce” and a consensus target price of $5.75.

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.