Leonard Tannenbaum Purchases 30,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average price of $3.41 per share, with a total value of $102,300.00. Following the purchase, the director owned 6,650,445 shares in the company, valued at $22,678,017.45. This trade represents a 0.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

AFC Gamma Stock Performance

Shares of NASDAQ AFCG opened at $3.44 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $3.00 and its two-hundred day moving average is $2.92. The company has a market cap of $77.98 million, a P/E ratio of 18.11 and a beta of 0.91. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $5.10.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. On average, equities analysts expect 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 was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.8%. AFC Gamma’s dividend payout ratio is 105.26%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded 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 investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

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.