AFC Gamma (NASDAQ:AFCG) Director Acquires $39,046.80 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 15,018 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $2.60 per share, for a total transaction of $39,046.80. Following the purchase, the director directly owned 6,013,101 shares of the company’s stock, valued at approximately $15,634,062.60. The trade was a 0.25% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

AFC Gamma Stock Performance

Shares of AFC Gamma stock opened at $2.68 on Thursday. The company has a 50 day moving average price of $2.43 and a 200 day moving average price of $3.09. The firm has a market capitalization of $63.06 million, a P/E ratio of -2.82 and a beta of 1.02. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12. AFC Gamma Inc. has a 52 week low of $2.06 and a 52 week high of $6.57.

AFC Gamma (NASDAQ:AFCG) last released its earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.18). AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%.The company had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $5.36 million. Sell-side analysts expect that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.5%. AFC Gamma’s payout ratio is -55.79%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AFCG. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. Zacks Research downgraded AFC Gamma from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Sell” and an average target price of $4.50.

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.