Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Buys $232,104.56 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 65,752 shares of the business’s stock in a transaction on Friday, August 28th. The stock was purchased at an average cost of $3.53 per share, for a total transaction of $232,104.56. Following the acquisition, the director owned 6,780,803 shares in the company, valued at approximately $23,936,234.59. The trade was a 0.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

AFC Gamma Price Performance

AFCG stock opened at $3.62 on Friday. The stock has a market capitalization of $82.07 million, a price-to-earnings ratio of 19.05 and a beta of 0.95. The firm’s 50-day moving average price is $3.04 and its two-hundred day moving average price is $2.96. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $4.93.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $6.77 million during 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%. As a group, equities analysts predict that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.05 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 annualized dividend and a yield of 5.5%. AFC Gamma’s dividend payout ratio (DPR) is 105.26%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AFCG. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

AFC Gamma Company Profile

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.