AFC Gamma (NASDAQ:AFCG) Director Purchases $66,167.64 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 19,404 shares of AFC Gamma stock in a transaction on Wednesday, August 26th. The shares were bought at an average price of $3.41 per share, for a total transaction of $66,167.64. Following the purchase, the director owned 6,699,849 shares of the company’s stock, valued at $22,846,485.09. This represents a 0.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Price Performance

AFCG stock opened at $3.60 on Monday. The firm has a market cap of $81.61 million, a P/E ratio of 18.95 and a beta of 0.91. 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 Inc. has a 1 year low of $2.06 and a 1 year high of $5.00. The stock has a 50-day simple moving average of $3.00 and a 200-day simple moving average of $2.93.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The business had revenue of $6.77 million during the quarter, compared to the consensus estimate of $8.59 million. On average, equities analysts predict 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 was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma’s dividend payout ratio is currently 105.26%.

Analyst Ratings Changes

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