AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 20,000 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were bought at an average price of $3.03 per share, with a total value of $60,600.00. Following the completion of the acquisition, the director directly owned 5,836,098 shares in the company, valued at $17,683,376.94. This trade represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AFC Gamma Trading Down 0.8%

Shares of NASDAQ:AFCG traded down $0.03 during trading on Thursday, reaching $3.06. 11,689 shares of the company traded hands, compared to its average volume of 221,574. The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.13. AFC Gamma Inc. has a 52-week low of $2.52 and a 52-week high of $9.66. The firm has a market capitalization of $69.03 million, a price-to-earnings ratio of -2.94 and a beta of 1.03. The business’s fifty day moving average is $3.20 and its 200-day moving average is $4.10.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of ($3.18) million during the quarter, compared to analysts’ expectations of $6.55 million. AFC Gamma had a positive return on equity of 8.45% and a negative net margin of 70.46%. As a group, analysts forecast that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 19.6%. The ex-dividend date was Tuesday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is presently -57.69%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Alliance Global Partners cut shares of AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 price objective for the company. in a report on Friday, August 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded AFC Gamma to a “hold” rating in a research note on Thursday, November 13th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $5.75.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.