AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 45,829 Shares of Stock

Key Points

• Director Leonard Tannenbaum bought 45,829 AFC Gamma shares at an average price of $3.06, investing approximately $140,237 and increasing his ownership to 6.56 million shares.
• AFC Gamma’s shares rose to $3.47, while quarterly EPS of $0.23 exceeded estimates of $0.19; however, revenue of $6.77 million fell short of the $8.59 million consensus forecast.
• The company maintains a quarterly dividend of $0.05, equivalent to a 5.8% annualized yield, but its payout ratio is high at 105.26%. Analysts’ consensus rating remains “Reduce,” with one Hold and one Sell rating.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 45,829 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $3.06 per share, for a total transaction of $140,236.74. Following the acquisition, the director owned 6,562,604 shares in the company, valued at approximately $20,081,568.24. This represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.

AFC Gamma Price Performance

Shares of AFCG traded up $0.31 during trading hours on Monday, reaching $3.47. 327,538 shares of the company's stock traded hands, compared to its average volume of 241,156. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $5.10. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market cap of $78.66 million, a PE ratio of 18.26 and a beta of 0.91. The firm's 50 day simple moving average is $2.99 and its 200-day simple moving average is $2.85.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted 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. The company had revenue of $6.77 million for the quarter, compared to analysts' expectations of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. Equities analysts expect that AFC Gamma Inc. will post 0.78 EPS for the current year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.8%. AFC Gamma's dividend payout ratio is presently 105.26%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of AFC Gamma in a research report on Friday, July 17th. Zacks Research upgraded AFC Gamma from a "strong sell" rating to a "hold" rating in a research report on Monday, April 20th. Finally, Wall Street Zen lowered AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source