AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Buys 15,202 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 15,202 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average cost of $3.46 per share, for a total transaction of $52,598.92. Following the completion of the transaction, the director directly owned 6,715,051 shares in the company, valued at $23,234,076.46. This represents a 0.23% 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 Price Performance

NASDAQ:AFCG opened at $3.60 on Friday. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $5.00. The company has a market cap of $81.61 million, a P/E ratio of 18.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s 50-day simple moving average is $3.00 and its 200 day simple moving average is $2.92.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. As a group, sell-side analysts forecast that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma’s dividend payout ratio is 105.26%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AFCG. Weiss Ratings raised shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

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.