Leonard Tannenbaum Acquires 14,366 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 14,366 shares of AFC Gamma stock in a transaction dated Monday, March 23rd. The stock was purchased at an average price of $2.59 per share, with a total value of $37,207.94. Following the purchase, the director owned 6,328,192 shares in the company, valued at approximately $16,390,017.28. This represents a 0.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $2.60 on Friday. 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 firm has a 50-day moving average of $2.42 and a 200-day moving average of $3.02. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $6.38. The company has a market cap of $61.18 million, a P/E ratio of -2.74 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG) last released 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). AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%.The firm had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $5.36 million. Equities research analysts forecast that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The firm 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Tuesday, March 31st. AFC Gamma’s payout ratio is presently -55.79%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. Zacks Research downgraded AFC Gamma from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, AFC Gamma has an average rating of “Sell” and a consensus target price 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.