AFC Gamma (NASDAQ:AFCG) Director Purchases $259,621.02 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 102,213 shares of AFC Gamma stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of $2.54 per share, with a total value of $259,621.02. Following the acquisition, the director owned 5,993,581 shares of the company’s stock, valued at $15,223,695.74. The trade was a 1.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

AFC Gamma Stock Performance

NASDAQ AFCG opened at $2.63 on Friday. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $6.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45. The company has a market capitalization of $61.88 million, a PE ratio of -2.77 and a beta of 1.02. The company has a fifty day moving average of $2.44 and a 200 day moving average of $3.14.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.18). The company had revenue of $8.71 million for the quarter, compared to analyst estimates of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. Research analysts forecast that AFC Gamma Inc. will post 1.64 earnings per share for the current year.

AFC Gamma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.05 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.6%. AFC Gamma’s dividend payout ratio is presently -55.79%.

Wall Street Analyst Weigh In

AFCG has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, January 21st. Zacks Research cut shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, AFC Gamma currently has an average rating of “Sell” and a consensus 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.