AFC Gamma (NASDAQ:AFCG) Stock: Insider Leonard Tannenbaum Acquires 44,643 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 44,643 shares of AFC Gamma stock in a transaction on Wednesday, September 30th. The shares were bought at an average price of $3.63 per share, for a total transaction of $162,054.09. Following the purchase, the director owned 7,109,614 shares of the company’s stock, valued at $25,807,898.82. This represents a 0.63% 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 Down 0.6%

Shares of AFCG stock traded down $0.02 during trading hours on Wednesday, reaching $3.60. The company had a trading volume of 109,759 shares, compared to its average volume of 216,455. 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 Inc. has a twelve month low of $2.06 and a twelve month high of $4.01. The company has a market capitalization of $81.62 million, a P/E ratio of 18.95 and a beta of 0.95. The stock’s fifty day simple moving average is $3.23 and its 200 day simple moving average is $3.11.

AFC Gamma (NASDAQ:AFCG) last announced its 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 business had revenue of $6.77 million for the quarter, compared to the consensus estimate 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 expect that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.6%. AFC Gamma’s dividend payout ratio (DPR) is currently 105.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AFCG shares. 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 lowered shares of AFC Gamma from a “buy” rating to a “hold” rating in a report 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. Based on data from MarketBeat, the stock presently has a consensus 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.