AFC Gamma (NASDAQ:AFCG) Director Buys $293,854.35 in Stock

Key Points

• Director Leonard Tannenbaum bought 115,237 shares at $2.55 on March 20 for $293,854.35, increasing his holdings to 6,313,826 shares (a 1.86% bump) — transaction disclosed in an SEC filing.
• AFC Gamma reported Q earnings of ($0.12) that missed estimates while revenue of $8.71M beat expectations, announced a $0.05 quarterly dividend (annualized yield ~7.6%), and currently carries an average analyst rating of “Sell” with a $4.50 target as the stock trades down about 3.3%.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 115,237 shares of the business's stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of $2.55 per share, with a total value of $293,854.35. Following the transaction, the director directly owned 6,313,826 shares of the company's stock, valued at $16,100,256.30. The trade was a 1.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

AFC Gamma Stock Down 3.3%

AFCG stock opened at $2.62 on Wednesday. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $6.42. The company has a market cap of $61.65 million, a PE ratio of -2.76 and a beta of 1.02. The business's 50-day simple moving average is $2.41 and its 200 day simple moving average is $3.02. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.18). AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. The firm had revenue of $8.71 million for the quarter, compared to the consensus estimate of $5.36 million. On average, research analysts anticipate that AFC Gamma Inc. will post 1.64 earnings per share for the current year.

AFC Gamma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.6%. AFC Gamma's payout ratio is currently -55.79%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AFCG shares. Zacks Research downgraded shares of AFC Gamma from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 5th. Weiss Ratings restated a "sell (d)" rating on shares of AFC Gamma in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, AFC Gamma presently has an average rating of "Sell" and an average price target of $4.50.

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.

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