AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Buys 36,861 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 36,861 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average cost of $4.57 per share, for a total transaction of $168,454.77. Following the completion of the acquisition, the director directly owned 4,882,506 shares in the company, valued at approximately $22,313,052.42. The trade was a 0.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

AFC Gamma Trading Up 3.6%

Shares of AFC Gamma stock opened at $4.65 on Thursday. The stock has a market cap of $105.04 million, a PE ratio of -11.34 and a beta of 1.07. The firm has a fifty day moving average price of $4.49 and a 200 day moving average price of $5.43. AFC Gamma Inc. has a 1 year low of $3.44 and a 1 year high of $10.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.13 and a quick ratio of 3.13.

AFC Gamma Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 12.9%. The ex-dividend date of this dividend was Monday, June 30th. AFC Gamma’s payout ratio is -146.34%.

Analysts Set New Price Targets

Separately, Alliance Global Partners downgraded AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 target price on the stock. in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.75.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.