Leonard Tannenbaum Buys 12,841 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 12,841 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average cost of $3.48 per share, with a total value of $44,686.68. Following the completion of the transaction, the director owned 6,575,445 shares in the company, valued at approximately $22,882,548.60. This trade represents a 0.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Stock Performance

AFCG traded up $0.14 during trading on Wednesday, hitting $3.58. 123,052 shares of the stock were exchanged, compared to its average volume of 240,419. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $5.10. The stock has a fifty day moving average price of $2.99 and a two-hundred day moving average price of $2.86. The firm has a market capitalization of $81.16 million, a P/E ratio of 18.84 and a beta of 0.91.

AFC Gamma (NASDAQ:AFCG) last posted 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 business had revenue of $6.77 million during the quarter, compared to the consensus estimate of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. As a group, sell-side analysts predict that AFC Gamma Inc. will post 0.78 earnings per share for the current year.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma’s dividend payout ratio (DPR) is presently 105.26%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AFCG. Wall Street Zen downgraded shares of AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company 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.