Leonard Tannenbaum Purchases 45,829 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 45,829 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $3.06 per share, for a total transaction of $140,236.74. Following the completion of the transaction, the director directly owned 6,562,604 shares of the company’s stock, valued at $20,081,568.24. This represents a 0.70% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

AFC Gamma Trading Down 0.9%

NASDAQ AFCG opened at $3.44 on Wednesday. The firm’s fifty day simple moving average is $2.99 and its 200-day simple moving average is $2.86. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $5.10. The company has a market capitalization of $77.98 million, a PE ratio of 18.11 and a beta of 0.91.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The company had revenue of $6.77 million for the quarter, compared to analyst estimates of $8.59 million. As a group, sell-side analysts anticipate that AFC Gamma Inc. will post 0.78 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

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

Wall Street Analysts Forecast Growth

AFCG has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a report on Friday, July 17th. Wall Street Zen lowered AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AFC Gamma 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.