AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 25,000 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 25,000 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were purchased at an average price of $3.50 per share, with a total value of $87,500.00. Following the completion of the purchase, the director directly owned 6,952,446 shares of the company’s stock, valued at $24,333,561. The trade was a 0.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

AFC Gamma Stock Performance

NASDAQ AFCG opened at $3.43 on Friday. The firm has a market capitalization of $77.76 million, a P/E ratio of 18.05 and a beta of 0.95. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $4.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. The business’s 50-day simple moving average is $3.13 and its 200-day simple moving average is $3.05.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.77 million during the quarter, compared to the consensus estimate of $8.59 million. Equities analysts predict that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. AFC Gamma’s dividend payout ratio is presently 105.26%.

Analyst Ratings Changes

AFCG has been the topic of several recent research reports. Weiss Ratings upgraded shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

AFC Gamma Company Profile

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.