Leonard Tannenbaum Buys 10,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was acquired at an average price of $3.49 per share, for a total transaction of $34,900.00. Following the completion of the acquisition, the director directly owned 6,962,446 shares of the company’s stock, valued at $24,298,936.54. The trade was a 0.14% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

AFC Gamma Trading Up 1.4%

AFC Gamma stock traded up $0.05 during mid-day trading on Tuesday, hitting $3.50. The company’s stock had a trading volume of 62,466 shares, compared to its average volume of 220,896. The stock’s fifty day moving average is $3.15 and its two-hundred day moving average is $3.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $79.34 million, a PE ratio of 18.42 and a beta of 0.95. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $4.29.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.59 million. On average, analysts anticipate that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.7%. AFC Gamma’s dividend payout ratio (DPR) is currently 105.26%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AFCG. Wall Street Zen lowered shares of AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce”.

About AFC Gamma

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.