AFC Gamma (NASDAQ:AFCG) Director Acquires $12,113.79 in Stock

Key Points

• Director Leonard Tannenbaum purchased 3,471 AFC Gamma shares at $3.49 each, investing $12,113.79 and increasing his holdings by 0.05% to nearly 7 million shares.
• AFC Gamma shares fell 0.6% to $3.48, while the company’s latest quarterly results beat EPS expectations at $0.23 but missed revenue estimates, reporting $6.77 million.
• The company declared a quarterly dividend of $0.05 per share, equating to a 5.7% annualized yield; analysts maintain a “Reduce” consensus rating, with one Hold and one Sell rating.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 3,471 shares of AFC Gamma stock in a transaction that occurred on Wednesday, September 23rd. The stock was bought at an average price of $3.49 per share, for a total transaction of $12,113.79. Following the completion of the acquisition, the director owned 6,988,989 shares in the company, valued at $24,391,571.61. This trade represents a 0.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

AFC Gamma Trading Down 0.6%

AFCG stock traded down $0.02 during mid-day trading on Thursday, hitting $3.48. 62,858 shares of the company were exchanged, compared to its average volume of 219,125. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $4.20. The firm has a market capitalization of $78.90 million, a P/E ratio of 18.32 and a beta of 0.95. The business has a fifty day simple moving average of $3.17 and a 200-day simple moving average of $3.08. 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 (NASDAQ:AFCG - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The business had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. On average, equities research analysts predict that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Wednesday, September 30th. AFC Gamma's dividend payout ratio is 105.26%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AFC Gamma presently has a consensus rating of "Reduce".

AFC Gamma Company Profile

AFC Gamma, Inc NASDAQ: AFCG is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.

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