Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Acquires $44,686.68 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 12,841 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were bought at an average price of $3.48 per share, for a total transaction of $44,686.68. Following the completion of the acquisition, the director owned 6,575,445 shares in the company, valued at approximately $22,882,548.60. This trade represents a 0.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $3.27 on Friday. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $5.10. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50 day moving average price of $2.99 and a 200 day moving average price of $2.88. The firm has a market capitalization of $74.13 million, a price-to-earnings ratio of 17.21 and a beta of 0.91.

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

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.05 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 6.1%. AFC Gamma’s dividend payout ratio (DPR) is presently 105.26%.

Analyst Ratings Changes

AFCG has been the topic of a number of research reports. Weiss Ratings upgraded AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently 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.