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

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 90,600 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $2.84 per share, with a total value of $257,304.00. Following the purchase, the director directly owned 6,516,775 shares of the company’s stock, valued at approximately $18,507,641. This represents a 1.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Price Performance

AFCG stock traded up $0.06 during trading hours on Tuesday, hitting $3.39. 409,495 shares of the stock traded hands, compared to its average volume of 322,147. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $5.78. The company has a market cap of $79.77 million, a P/E ratio of -5.30 and a beta of 0.77. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.68. The stock has a 50-day simple moving average of $2.80 and a 200 day simple moving average of $2.74.

AFC Gamma (NASDAQ:AFCG) last announced 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). AFC Gamma had a negative net margin of 43.21% and a positive return on equity of 1.48%. The company had revenue of $9.07 million for the quarter, compared to analysts’ expectations of $5.36 million. Equities analysts forecast that AFC Gamma Inc. will post 0.49 earnings per share for the current year.

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Tuesday, March 31st. AFC Gamma’s dividend payout ratio is currently -31.25%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a report on Monday, April 20th. Zacks Research raised AFC Gamma from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus 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.