Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Buys $38,102.61 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 10,673 shares of the firm’s stock in a transaction on Monday, September 28th. The shares were acquired at an average price of $3.57 per share, with a total value of $38,102.61. Following the completion of the transaction, the director directly owned 7,024,890 shares in the company, valued at approximately $25,078,857.30. This trade represents a 0.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Trading Up 0.6%

NASDAQ:AFCG opened at $3.50 on Friday. The stock has a market cap of $79.34 million, a PE ratio of 18.42 and a beta of 0.99. AFC Gamma Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $4.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. The stock’s 50-day moving average is $3.29 and its two-hundred day moving average is $3.12.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings results 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. The business had revenue of $6.77 million during 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%. As a group, equities research analysts forecast that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The business also recently announced 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. 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 presently 105.26%.

Analyst Ratings Changes

Several equities analysts have recently commented on AFCG shares. Wall Street Zen cut shares of AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently 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.