AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 3,471 Shares of Company Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 3,471 shares of AFC Gamma stock in a transaction dated Wednesday, September 23rd. The shares were purchased at an average price of $3.49 per share, with a total value of $12,113.79. Following the completion of the acquisition, the director owned 6,988,989 shares in the company, valued at $24,391,571.61. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

AFC Gamma Trading Down 0.6%

NASDAQ:AFCG opened at $3.48 on Friday. The stock’s 50 day moving average price is $3.18 and its 200 day moving average price is $3.09. AFC Gamma Inc. has a 52 week low of $2.06 and a 52 week high of $4.20. The company has a market capitalization of $78.89 million, a P/E ratio of 18.32 and a beta of 0.95. 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 announced its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $6.77 million for the quarter, compared to analyst estimates of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. On average, research analysts forecast that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.7%. AFC Gamma’s dividend payout ratio is currently 105.26%.

Analyst Ratings Changes

AFCG has been the subject of a number of analyst reports. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One investment 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.com, the stock presently has an average rating of “Reduce”.

About AFC Gamma

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.