AFC Gamma (NASDAQ:AFCG) Director Acquires 19,404 Shares of Stock

Key Points

• Director Leonard Tannenbaum bought 19,404 AFC Gamma shares at an average price of $3.41, investing approximately $66,168 and increasing his direct ownership to 6.7 million shares.
• AFCG shares recently traded at $3.60, above their 50-day and 200-day moving averages, while the company reported quarterly EPS of $0.23—beating estimates—but revenue of $6.77 million fell short of forecasts.
• The company pays a quarterly dividend of $0.05, equivalent to a 5.6% annualized yield, though its payout ratio is high at 105.26%; analysts’ average rating is “Reduce.”

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 19,404 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average price of $3.41 per share, with a total value of $66,167.64. Following the completion of the purchase, the director directly owned 6,699,849 shares in the company, valued at $22,846,485.09. This represents a 0.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

AFC Gamma Stock Performance

AFCG stock traded up $0.16 during midday trading on Friday, reaching $3.60. The stock had a trading volume of 167,215 shares, compared to its average volume of 234,677. The firm has a fifty day simple moving average of $3.00 and a two-hundred day simple moving average of $2.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $81.61 million, a PE ratio of 18.95 and a beta of 0.91. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $5.00.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. The firm had revenue of $6.77 million during the quarter, compared to the consensus estimate of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. As a group, equities research analysts anticipate that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders 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 yield of 5.6%. AFC Gamma's payout ratio is presently 105.26%.

Analysts Set New Price Targets

Several 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 shares of AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce".

AFC Gamma Company Profile

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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