Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Purchases $52,598.92 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 15,202 shares of the stock in a transaction on Thursday, August 27th. The stock was purchased at an average price of $3.46 per share, for a total transaction of $52,598.92. Following the completion of the purchase, the director directly owned 6,715,051 shares in the company, valued at approximately $23,234,076.46. This represents a 0.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AFC Gamma Price Performance

AFCG opened at $3.60 on Monday. The firm has a market capitalization of $81.61 million, a P/E ratio of 18.95 and a beta of 0.91. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $5.00. The company has a fifty day moving average price of $3.00 and a 200-day moving average price of $2.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34.

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

AFC Gamma Announces Dividend

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

Wall Street Analysts Forecast Growth

AFCG has been the subject of several research analyst reports. Weiss Ratings upgraded shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. Wall Street Zen cut shares of AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, AFC Gamma currently 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.