AFC Gamma (NASDAQ:AFCG) Director Buys $293,854.35 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 115,237 shares of the stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $2.55 per share, with a total value of $293,854.35. Following the completion of the transaction, the director directly owned 6,313,826 shares in the company, valued at approximately $16,100,256.30. The trade was a 1.86% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AFC Gamma Trading Up 2.3%

AFCG stock opened at $2.66 on Friday. The firm has a fifty day moving average price of $2.42 and a 200 day moving average price of $3.00. AFC Gamma Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $6.38. The firm has a market cap of $62.59 million, a PE ratio of -2.80 and a beta of 1.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.45 and a current ratio of 3.45.

AFC Gamma (NASDAQ:AFCG) last released 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 negative net margin of 70.17% and a positive return on equity of 0.99%. The business had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $5.36 million. Sell-side analysts anticipate that AFC Gamma Inc. will post 1.64 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given 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 is Tuesday, March 31st. AFC Gamma’s dividend payout ratio is currently -55.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Zacks Research lowered AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, AFC Gamma has a consensus rating of “Sell” and an average price target 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.