Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Purchases $191,782.80 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 53,273 shares of AFC Gamma stock in a transaction on Monday, August 31st. The shares were purchased at an average cost of $3.60 per share, for a total transaction of $191,782.80. Following the completion of the purchase, the director directly owned 6,834,076 shares of the company’s stock, valued at $24,602,673.60. This trade represents a 0.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

AFC Gamma Trading Down 3.1%

Shares of AFC Gamma stock traded down $0.11 during mid-day trading on Tuesday, hitting $3.49. The stock had a trading volume of 60,052 shares, compared to its average volume of 233,388. The firm has a 50-day moving average of $3.01 and a two-hundred day moving average of $2.94. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $5.00. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market cap of $79.12 million, a P/E ratio of 18.37 and a beta of 0.91.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $6.77 million during the quarter, compared to the consensus estimate of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. Sell-side analysts forecast that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.7%. The ex-dividend date was Tuesday, June 30th. AFC Gamma’s dividend payout ratio is presently 105.26%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AFCG. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

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.