AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 44,914 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 44,914 shares of the stock in a transaction dated Tuesday, March 24th. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $116,327.26. Following the completion of the acquisition, the director owned 6,373,106 shares of the company’s stock, valued at approximately $16,506,344.54. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AFC Gamma Trading Down 3.3%

AFC Gamma stock opened at $2.62 on Wednesday. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $6.42. The business’s fifty day moving average is $2.41 and its 200 day moving average is $3.02. The stock has a market capitalization of $61.65 million, a PE ratio of -2.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). The business had revenue of $8.71 million during the quarter, compared to analysts’ expectations of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. On average, sell-side analysts predict that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AFCG. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. Zacks Research lowered 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Sell” and an average 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.