AFC Gamma (NASDAQ:AFCG) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of AFC Gamma (NASDAQ:AFCG) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, AFC Gamma currently has an average rating of “Reduce” and a consensus price target of $5.75.

AFC Gamma Trading Up 1.9%

NASDAQ:AFCG traded up $0.05 during trading hours on Thursday, reaching $2.62. 228,930 shares of the company were exchanged, compared to its average volume of 210,714. The firm has a market cap of $61.65 million, a price-to-earnings ratio of -2.76 and a beta of 1.02. The stock has a 50 day simple moving average of $2.47 and a 200 day simple moving average of $3.19. AFC Gamma has a 52-week low of $2.06 and a 52-week high of $8.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.04.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.18). The company had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $5.36 million. AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. As a group, analysts predict that AFC Gamma will post 1.64 EPS for the current year.

AFC Gamma Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is currently -55.79%.

Insider Buying and Selling at AFC Gamma

In other AFC Gamma news, Director Leonard M. Tannenbaum purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average cost of $3.05 per share, with a total value of $76,250.00. Following the transaction, the director owned 5,861,098 shares in the company, valued at approximately $17,876,348.90. This trade represents a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 69,000 shares of company stock worth $204,770. Insiders own 25.10% of the company’s stock.

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.