Leonard Tannenbaum Acquires 19,404 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 19,404 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average price of $3.41 per share, with a total value of $66,167.64. Following the completion of the transaction, the director directly owned 6,699,849 shares of the company’s stock, valued at $22,846,485.09. This represents a 0.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

AFC Gamma Price Performance

NASDAQ AFCG traded up $0.16 during mid-day trading on Friday, hitting $3.60. The stock had a trading volume of 167,215 shares, compared to its average volume of 234,677. The firm’s 50 day moving average is $3.00 and its 200 day moving average is $2.92. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $81.61 million, a price-to-earnings ratio of 18.95 and a beta of 0.91. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $5.00.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The company had revenue of $6.77 million for the quarter, compared to analysts’ expectations of $8.59 million. Equities research analysts forecast that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.6%. AFC Gamma’s payout ratio is presently 105.26%.

Analysts Set New Price Targets

Several research firms recently commented on AFCG. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

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.