AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 18,500 Shares of Company Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 18,500 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $3.08 per share, for a total transaction of $56,980.00. Following the completion of the purchase, the director directly owned 7,128,114 shares of the company’s stock, valued at $21,954,591.12. The trade was a 0.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

AFC Gamma Stock Up 8.2%

NASDAQ AFCG opened at $3.43 on Tuesday. AFC Gamma Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $3.84. The business has a fifty day moving average price of $3.29 and a two-hundred day moving average price of $2.98. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $77.76 million, a PE ratio of 3.30 and a beta of 1.00.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly 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 15.64% and a return on equity of 2.85%. The company had revenue of $8.57 million for the quarter, compared to the consensus estimate of $8.30 million. Equities analysts expect that AFC Gamma Inc. will post 0.71 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

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

Analyst Ratings Changes

AFCG has been the topic of a number of research reports. Wall Street Zen lowered shares of AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock 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.