Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Purchases $82,000.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 25,000 shares of the stock in a transaction dated Friday, August 21st. The shares were purchased at an average price of $3.28 per share, with a total value of $82,000.00. Following the completion of the acquisition, the director owned 6,620,445 shares of the company’s stock, valued at approximately $21,715,059.60. This represents a 0.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Trading Up 1.8%

Shares of AFC Gamma stock opened at $3.45 on Thursday. The firm has a market cap of $78.21 million, a PE ratio of 18.16 and a beta of 0.91. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $5.10. The business’s fifty day moving average is $2.99 and its two-hundred day moving average is $2.91.

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

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Tuesday, June 30th. AFC Gamma’s dividend payout ratio (DPR) is 105.26%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

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.