Leonard Tannenbaum Purchases 15,018 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 15,018 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $2.60 per share, for a total transaction of $39,046.80. Following the completion of the acquisition, the director directly owned 6,013,101 shares of the company’s stock, valued at approximately $15,634,062.60. This trade represents a 0.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AFC Gamma Trading Up 2.7%

Shares of AFCG stock opened at $2.67 on Wednesday. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.12. The stock has a market cap of $62.83 million, a P/E ratio of -2.81 and a beta of 1.02. The stock has a 50 day simple moving average of $2.43 and a 200 day simple moving average of $3.09. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $6.82.

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

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma’s dividend payout ratio is -55.79%.

Analyst Upgrades and Downgrades

AFCG has been the topic of a number of recent analyst reports. Zacks Research cut AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Sell” and a consensus target price of $4.50.

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.