Leonard Tannenbaum Acquires 90,600 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 90,600 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $2.84 per share, with a total value of $257,304.00. Following the completion of the transaction, the director directly owned 6,516,775 shares in the company, valued at approximately $18,507,641. The trade was a 1.41% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

AFC Gamma Stock Up 3.8%

Shares of NASDAQ:AFCG opened at $3.52 on Thursday. The business has a 50-day moving average price of $2.83 and a 200 day moving average price of $2.75. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $82.82 million, a price-to-earnings ratio of -5.50 and a beta of 0.77. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $5.78.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings data 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). The business had revenue of $9.07 million for the quarter, compared to analyst estimates of $5.36 million. AFC Gamma had a positive return on equity of 1.48% and a negative net margin of 43.21%. Sell-side analysts expect that AFC Gamma Inc. will post 0.49 EPS for the current year.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is presently -31.25%.

Analyst Upgrades and Downgrades

AFCG has been the subject of several research reports. Zacks Research raised AFC Gamma from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research report on Monday, April 20th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, AFC Gamma currently has a consensus rating of “Reduce” 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.