AFC Gamma (NASDAQ:AFCG) Insider Buys $19,600.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum acquired 7,000 shares of AFC Gamma stock in a transaction on Tuesday, March 31st. The shares were bought at an average cost of $2.80 per share, with a total value of $19,600.00. Following the completion of the purchase, the insider owned 225,907 shares in the company, valued at $632,539.60. The trade was a 3.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

AFC Gamma Stock Performance

Shares of AFCG stock traded down $0.04 during midday trading on Thursday, hitting $2.73. The company had a trading volume of 32,249 shares, compared to its average volume of 339,053. The company’s 50 day simple moving average is $2.44 and its 200 day simple moving average is $2.95. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $5.87. The stock has a market cap of $64.14 million, a price-to-earnings ratio of -2.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45.

AFC Gamma (NASDAQ:AFCG) last released its quarterly 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). AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%.The company had revenue of $9.07 million for the quarter, compared to analysts’ expectations of $5.36 million. Research analysts anticipate that AFC Gamma Inc. will post 1.64 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 Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.05 per share. 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 is presently -21.05%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of AFC Gamma from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a report 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. Based on data from MarketBeat.com, AFC Gamma currently has a consensus rating of “Sell” and an average price target of $4.50.

About AFC Gamma

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.