Insider Buying: AFC Gamma (NASDAQ:AFCG) Insider Purchases $19,600.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum acquired 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The shares were acquired at an average cost of $2.80 per share, for a total transaction of $19,600.00. Following the purchase, the insider directly owned 225,907 shares of the company’s stock, valued at $632,539.60. This represents a 3.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

AFC Gamma Stock Performance

Shares of AFCG opened at $2.81 on Friday. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12. The stock has a market cap of $66.12 million, a P/E ratio of -2.96 and a beta of 0.84. The business’s 50 day moving average price is $2.45 and its 200-day moving average price is $2.93. AFC Gamma Inc. has a 52 week low of $2.06 and a 52 week high of $5.87.

AFC Gamma (NASDAQ:AFCG) last released its earnings results on Wednesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). The company had revenue of $9.07 million during the quarter, compared to analysts’ expectations of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. Equities research analysts anticipate that AFC Gamma Inc. will post 1.64 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 7.1%. AFC Gamma’s payout ratio is -21.05%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AFCG shares. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research report 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’s stock. According to MarketBeat.com, AFC Gamma presently has a consensus 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.