Leonard Tannenbaum Buys 15,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 15,000 shares of the business’s stock in a transaction on Friday, September 11th. The shares were acquired at an average cost of $3.55 per share, for a total transaction of $53,250.00. Following the completion of the transaction, the director directly owned 6,899,299 shares in the company, valued at approximately $24,492,511.45. This represents a 0.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

AFC Gamma Price Performance

Shares of NASDAQ AFCG opened at $3.47 on Thursday. The stock has a market capitalization of $78.66 million, a price-to-earnings ratio of 18.26 and a beta of 0.95. The business has a 50-day moving average of $3.11 and a 200-day moving average of $3.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. AFC Gamma Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $4.58.

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

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. AFC Gamma’s dividend payout ratio is presently 105.26%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings raised 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 cut shares of AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AFC Gamma presently has a consensus rating of “Reduce”.

AFC Gamma Company Profile

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.