AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 30,000 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 30,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $3.41 per share, for a total transaction of $102,300.00. Following the completion of the transaction, the director owned 6,650,445 shares in the company, valued at $22,678,017.45. This trade represents a 0.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Price Performance

Shares of NASDAQ:AFCG opened at $3.45 on Thursday. 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 cap of $78.21 million, a price-to-earnings ratio of 18.16 and a beta of 0.91. The stock’s 50 day moving average price is $2.99 and its 200 day moving average price is $2.91. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $5.10.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The business had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. Equities research analysts anticipate that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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 5.8%. 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

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

About AFC Gamma

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.