Leonard Tannenbaum Purchases 35,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 35,000 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was bought at an average price of $3.46 per share, for a total transaction of $121,100.00. Following the purchase, the director directly owned 6,884,299 shares of the company’s stock, valued at $23,819,674.54. The trade was a 0.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AFC Gamma Stock Performance

Shares of AFC Gamma stock opened at $3.55 on Friday. The company has a market capitalization of $80.48 million, a PE ratio of 18.68 and a beta of 0.95. The company has a 50-day simple moving average of $3.08 and a two-hundred day simple moving average of $3.01. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $4.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The firm had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. Research analysts expect that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.05 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.6%. AFC Gamma’s dividend payout ratio (DPR) is 105.26%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, AFC Gamma presently has an average rating of “Reduce”.

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.