AFC Gamma (NASDAQ:AFCG) Director Purchases 10,673 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 10,673 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were bought at an average price of $3.57 per share, for a total transaction of $38,102.61. Following the purchase, the director directly owned 7,024,890 shares of the company’s stock, valued at approximately $25,078,857.30. This trade represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AFC Gamma Price Performance

AFCG traded down $0.02 during trading on Wednesday, reaching $3.60. The stock had a trading volume of 109,759 shares, compared to its average volume of 216,455. The firm has a market capitalization of $81.62 million, a price-to-earnings ratio of 18.95 and a beta of 0.95. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $4.01. The stock has a 50 day moving average of $3.23 and a two-hundred day moving average of $3.11.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The firm had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. As a group, equities analysts anticipate that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.05 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.20 annualized dividend and a yield of 5.6%. AFC Gamma’s payout ratio is 105.26%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

About AFC Gamma

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.