AFC Gamma (NASDAQ:AFCG) Insider Purchases 10,000 Shares of Company Stock

AFC Gamma Inc. (NASDAQ:AFCG) insider Robyn Tannenbaum purchased 10,000 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were acquired at an average cost of $3.09 per share, with a total value of $30,900.00. Following the completion of the transaction, the insider owned 236,907 shares in the company, valued at $732,042.63. This trade represents a 4.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

AFC Gamma Stock Up 8.2%

NASDAQ:AFCG traded up $0.26 during mid-day trading on Monday, hitting $3.43. 90,978 shares of the company’s stock were exchanged, compared to its average volume of 195,765. The company has a market cap of $77.76 million, a PE ratio of 3.30 and a beta of 1.00. 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 Inc. has a one year low of $2.06 and a one year high of $3.84. The business has a fifty day moving average price of $3.30 and a 200 day moving average price of $2.97.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Thursday, November 5th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. AFC Gamma had a net margin of 71.50% and a return on equity of 4.62%. The business had revenue of $8.57 million during the quarter, compared to the consensus estimate of $8.30 million. Equities analysts predict that AFC Gamma Inc. will post 0.71 EPS for the current year.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.05 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. AFC Gamma’s dividend payout ratio is presently 19.23%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AFCG. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a 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. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

About AFC Gamma

AFC Gamma, Inc is a specialty finance company focused primarily on providing institutional debt financing to businesses operating in the regulated cannabis industry. The company has historically targeted established cannabis operators and other participants in the industry that may have limited access to traditional bank financing.

Its financing activities have included senior secured loans, mortgage-backed loans and other structured debt arrangements. Borrowers may use these funds to support the acquisition, development or expansion of cannabis cultivation, processing, manufacturing and retail facilities, as well as related working-capital and corporate needs.

AFC Gamma was founded in 2019 and became a publicly traded company in 2021.