Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Acquires $87,500.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 25,000 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was acquired at an average price of $3.50 per share, with a total value of $87,500.00. Following the transaction, the director owned 6,952,446 shares in the company, valued at approximately $24,333,561. The trade was a 0.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

AFC Gamma Price Performance

AFC Gamma stock traded down $0.04 on Friday, reaching $3.43. The company’s stock had a trading volume of 88,002 shares, compared to its average volume of 222,860. The business’s fifty day moving average price is $3.12 and its 200 day moving average price is $3.05. 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 company has a market cap of $77.76 million, a price-to-earnings ratio of 18.05 and a beta of 0.95. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $4.53.

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

AFC Gamma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.8%. The ex-dividend date is Wednesday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is presently 105.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AFCG shares. Weiss Ratings upgraded shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. Wall Street Zen lowered shares of AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

AFC Gamma Company Profile

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.