Insider Buying: AFC Gamma (NASDAQ:AFCG) Insider Purchases $30,900.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $3.09 per share, for a total transaction of $30,900.00. Following the completion of the purchase, the insider owned 236,907 shares of the company’s stock, valued at $732,042.63. This trade represents a 4.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AFC Gamma Trading Up 0.6%

Shares of AFCG opened at $3.51 on Thursday. The stock has a market capitalization of $78.64 million, a P/E ratio of 3.38 and a beta of 1.00. The company has a quick ratio of 1.34, a current ratio of 1.27 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $3.29 and a two-hundred day simple moving average of $2.99. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $3.84.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. AFC Gamma had a net margin of 71.50% and a return on equity of 4.57%. The business had revenue of $8.57 million for the quarter, compared to analyst estimates of $8.30 million. On average, research analysts anticipate that AFC Gamma Inc. will post 0.71 EPS for the current year.

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Wednesday, September 30th. AFC Gamma’s dividend payout ratio is currently 19.23%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One equities research 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”.

AFC Gamma Company Profile

AFC Gamma, Inc. is a specialty finance company focused primarily on providing institutional debt financing to businesses operating in the regulated cannabis industry. The company has historically targeted established cannabis operators and other participants in the industry that may have limited access to traditional bank financing. Its financing activities have included senior secured loans, mortgage-backed loans and other structured debt arrangements. Borrowers may use these funds to support the acquisition, development or expansion of cannabis cultivation, processing, manufacturing and retail facilities, as well as related working-capital and corporate needs.