Leonard Tannenbaum Purchases 90,600 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 90,600 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were purchased at an average cost of $2.59 per share, with a total value of $234,654.00. Following the completion of the purchase, the director owned 6,137,989 shares in the company, valued at $15,897,391.51. This represents a 1.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AFC Gamma Stock Down 8.8%

AFCG opened at $2.50 on Friday. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $6.52. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.45 and a current ratio of 3.45. The stock’s fifty day moving average is $2.42 and its 200-day moving average is $3.07. The company has a market capitalization of $58.83 million, a PE ratio of -2.63 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG) last announced its 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 firm had revenue of $8.71 million for the quarter, compared to the consensus estimate of $5.36 million. AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. On average, equities analysts predict that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma’s dividend payout ratio is presently -55.79%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AFCG. Zacks Research cut shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, AFC Gamma presently has an average rating of “Sell” and a consensus target price of $4.50.

AFC Gamma Company Profile

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.