Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Purchases $116,327.26 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 44,914 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $116,327.26. Following the purchase, the director directly owned 6,373,106 shares in the company, valued at approximately $16,506,344.54. This represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Stock Performance

AFCG opened at $2.66 on Friday. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $6.38. The stock has a market cap of $62.59 million, a P/E ratio of -2.80 and a beta of 1.02. The stock’s 50 day simple moving average is $2.42 and its 200 day simple moving average is $3.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45.

AFC Gamma (NASDAQ:AFCG) last issued 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 firm had revenue of $8.71 million for the quarter, compared to analyst estimates of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. As a group, equities analysts anticipate that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid 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 payout ratio is -55.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AFCG shares. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. Zacks Research cut shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus target price of $4.50.

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.