AFC Gamma (NASDAQ:AFCG) Stock: Insider Leonard Tannenbaum Purchases 40,081 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 40,081 shares of AFC Gamma stock in a transaction dated Tuesday, September 29th. The stock was acquired at an average cost of $3.59 per share, with a total value of $143,890.79. Following the transaction, the director owned 7,064,971 shares of the company’s stock, valued at $25,363,245.89. This trade represents a 0.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AFC Gamma Stock Performance

Shares of AFCG stock traded down $0.02 on Wednesday, hitting $3.60. The company’s stock had a trading volume of 109,759 shares, compared to its average volume of 216,455. AFC Gamma Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $4.01. The company has a market capitalization of $81.62 million, a PE ratio of 18.95 and a beta of 0.95. The stock’s 50 day moving average is $3.23 and its 200-day moving average is $3.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The firm had revenue of $6.77 million for the quarter, compared to analyst estimates of $8.59 million. Equities research analysts expect that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.6%. AFC Gamma’s dividend payout ratio is currently 105.26%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AFCG. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

About AFC Gamma

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.