AFC Gamma (NASDAQ:AFCG) Director Purchases $143,890.79 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 40,081 shares of the company’s stock in a transaction that occurred on Tuesday, September 29th. The stock was acquired at an average price of $3.59 per share, for a total transaction of $143,890.79. Following the purchase, the director owned 7,064,971 shares in the company, valued at $25,363,245.89. This trade represents a 0.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AFC Gamma Trading Up 0.6%

AFCG stock opened at $3.50 on Friday. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $4.01. The stock has a market cap of $79.34 million, a price-to-earnings ratio of 18.42 and a beta of 0.99. The company has a fifty day moving average price of $3.29 and a two-hundred day moving average price of $3.12. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $6.77 million for 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%. Equities analysts anticipate that AFC Gamma Inc. will post 0.72 EPS for the current 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 issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Wednesday, September 30th. AFC Gamma’s payout ratio is currently 105.26%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AFCG. Weiss Ratings upgraded AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AFC Gamma has an average rating of “Reduce”.

AFC Gamma Company Profile

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.