AFC Gamma (NASDAQ:AFCG) Director Buys $156,954.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 60,600 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $2.59 per share, with a total value of $156,954.00. Following the completion of the acquisition, the director owned 6,198,589 shares of the company’s stock, valued at approximately $16,054,345.51. The trade was a 0.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Price Performance

Shares of NASDAQ:AFCG traded up $0.06 on Thursday, hitting $2.74. The company had a trading volume of 274,422 shares, compared to its average volume of 346,161. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.12. The company 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 52-week low of $2.06 and a 52-week high of $6.52. The business has a 50 day moving average of $2.43 and a 200 day moving average of $3.09.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) EPS 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 analysts’ expectations of $5.36 million. As a group, equities analysts anticipate that AFC Gamma Inc. will post 1.64 earnings per share for the current fiscal 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 issued a dividend of $0.05 per share. 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 payout ratio is -55.79%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AFCG shares. Zacks Research downgraded shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Sell” and an average price target of $4.50.

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.