Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Purchases 115,237 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 115,237 shares of the stock in a transaction on Friday, March 20th. The stock was bought at an average price of $2.55 per share, for a total transaction of $293,854.35. Following the completion of the transaction, the director directly owned 6,313,826 shares of the company’s stock, valued at approximately $16,100,256.30. This trade represents a 1.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AFC Gamma Stock Performance

AFC Gamma stock opened at $2.62 on Wednesday. The firm has a market capitalization of $61.65 million, a P/E ratio of -2.76 and a beta of 1.02. The stock has a fifty day moving average price of $2.41 and a two-hundred day moving average price of $3.02. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $6.42. 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 (NASDAQ:AFCG) last issued its earnings results on Wednesday, March 4th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.18). AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. The firm had revenue of $8.71 million during the quarter, compared to analyst estimates of $5.36 million. As a group, analysts anticipate that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The company also recently declared 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 is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 7.6%. AFC Gamma’s payout ratio is -55.79%.

Analysts Set New Price Targets

AFCG has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. Zacks Research downgraded AFC Gamma from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Sell” and an average price target 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.