AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Buys 90,600 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 90,600 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were bought at an average price of $2.59 per share, with a total value of $234,654.00. Following the purchase, the director owned 6,137,989 shares in the company, valued at $15,897,391.51. This represents a 1.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AFC Gamma Stock Performance

Shares of AFCG stock traded up $0.06 during trading on Thursday, reaching $2.74. The company had a trading volume of 274,422 shares, compared to its average volume of 346,161. The firm’s 50 day simple moving average is $2.43 and its two-hundred day simple moving average is $3.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $6.52. The company has a market capitalization of $64.47 million, a PE ratio of -2.88 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $5.36 million. Sell-side analysts forecast that AFC Gamma Inc. will post 1.64 earnings per share for the current year.

AFC Gamma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Tuesday, March 31st. AFC Gamma’s payout ratio is presently -55.79%.

Analysts Set New Price Targets

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

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.