AFC Gamma (NASDAQ:AFCG) Director Acquires $232,104.56 in Stock

Key Points

• Director Leonard Tannenbaum purchased 65,752 AFC Gamma shares at an average price of $3.53, investing $232,104.56 and increasing his ownership by 0.98% to 6.78 million shares.
• AFC Gamma shares fell 3.1% to $3.49, while the company reported quarterly EPS of $0.23, beating estimates, but revenue of $6.77 million came in below expectations.
• The company pays a quarterly dividend of $0.05, or $0.20 annually, implying a 5.7% yield; analysts maintain a cautious outlook with a consensus rating of “Reduce.”

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 65,752 shares of AFC Gamma stock in a transaction on Friday, August 28th. The shares were acquired at an average cost of $3.53 per share, for a total transaction of $232,104.56. Following the completion of the transaction, the director owned 6,780,803 shares of the company's stock, valued at $23,936,234.59. This represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

AFC Gamma Trading Down 3.1%

AFCG traded down $0.11 during trading on Tuesday, hitting $3.49. 60,052 shares of the company's stock were exchanged, compared to its average volume of 233,388. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $5.00. The stock has a 50 day moving average price of $3.01 and a 200 day moving average price of $2.94. The firm has a market cap of $79.12 million, a P/E ratio of 18.37 and a beta of 0.91. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.23 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%. As a group, analysts expect that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 annualized dividend and a yield of 5.7%. AFC Gamma's dividend payout ratio (DPR) is 105.26%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AFCG. Wall Street Zen downgraded AFC Gamma from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings upgraded AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock 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.

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