AFC Gamma (NASDAQ:AFCG) Stock: Insider Leonard Tannenbaum Acquires 18,500 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 18,500 shares of the company’s stock in a transaction dated Friday, November 6th. The stock was acquired at an average cost of $3.08 per share, for a total transaction of $56,980.00. Following the completion of the purchase, the director directly owned 7,128,114 shares in the company, valued at $21,954,591.12. This trade represents a 0.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AFC Gamma Trading Up 8.2%

Shares of AFC Gamma stock traded up $0.26 on Monday, hitting $3.43. 90,978 shares of the company’s stock traded hands, compared to its average volume of 195,765. The company has a fifty day moving average of $3.30 and a two-hundred day moving average of $2.97. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $3.84. The company has a market capitalization of $77.76 million, a price-to-earnings ratio of 3.30 and a beta of 1.00. 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 (NASDAQ:AFCG) last issued its earnings results on Thursday, November 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. The business had revenue of $8.57 million during the quarter, compared to the consensus estimate of $8.30 million. AFC Gamma had a return on equity of 4.62% and a net margin of 71.50%. As a group, sell-side analysts expect that AFC Gamma Inc. will post 0.71 earnings per share for the current year.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Wednesday, September 30th. AFC Gamma’s dividend payout ratio is presently 19.23%.

Analysts Set New Price Targets

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

AFC Gamma Company Profile

AFC Gamma, Inc is a specialty finance company focused primarily on providing institutional debt financing to businesses operating in the regulated cannabis industry. The company has historically targeted established cannabis operators and other participants in the industry that may have limited access to traditional bank financing.

Its financing activities have included senior secured loans, mortgage-backed loans and other structured debt arrangements. Borrowers may use these funds to support the acquisition, development or expansion of cannabis cultivation, processing, manufacturing and retail facilities, as well as related working-capital and corporate needs.

AFC Gamma was founded in 2019 and became a publicly traded company in 2021.