AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 34,288 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 34,288 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was purchased at an average price of $2.59 per share, for a total transaction of $88,805.92. Following the acquisition, the director directly owned 6,047,389 shares in the company, valued at $15,662,737.51. This represents a 0.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

AFC Gamma Price Performance

AFC Gamma stock opened at $2.60 on Tuesday. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $6.82. The firm has a market capitalization of $61.18 million, a price-to-earnings ratio of -2.74 and a beta of 1.02. The company has a fifty day simple moving average of $2.43 and a 200-day simple moving average of $3.11. 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 (NASDAQ:AFCG) last posted its quarterly 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). The business had revenue of $8.71 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%. On average, equities analysts anticipate that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.05 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.7%. AFC Gamma’s dividend payout ratio is -55.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AFCG shares. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. Zacks Research cut shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus 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.