AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 90,600 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 90,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average cost of $2.59 per share, with a total value of $234,654.00. Following the completion of the acquisition, the director owned 6,137,989 shares of the company’s stock, valued at approximately $15,897,391.51. This trade represents a 1.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AFC Gamma Stock Performance

Shares of AFCG opened at $2.74 on Friday. The stock has a market capitalization of $64.47 million, a P/E ratio of -2.88 and a beta of 1.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.45 and a current ratio of 3.45. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $6.52. The company’s fifty day moving average is $2.42 and its two-hundred day moving average is $3.09.

AFC Gamma (NASDAQ:AFCG) last released its earnings results on Wednesday, March 4th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.18). The firm had revenue of $8.71 million during the quarter, compared to analyst estimates of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. On average, sell-side analysts predict that AFC Gamma Inc. will post 1.64 earnings per share for the current year.

AFC Gamma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.05 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 7.3%. AFC Gamma’s dividend payout ratio (DPR) is presently -55.79%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AFCG shares. Zacks Research cut AFC Gamma from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Sell” and an average price target of $4.50.

AFC Gamma Company Profile

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.