AFC Gamma (NASDAQ:AFCG) Director Acquires $52,598.92 in Stock

Key Points

• Director Leonard Tannenbaum purchased 15,202 AFC Gamma shares for $52,598.92, increasing his direct ownership by 0.23% to 6.72 million shares.
• AFC Gamma reported quarterly EPS of $0.23, exceeding estimates of $0.19, but revenue of $6.77 million fell short of the $8.59 million consensus forecast.
• The stock traded at $3.60, while analysts maintained a cautious outlook with a consensus rating of “Reduce”; the company also offers a $0.20 annualized dividend yielding about 5.6%.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 15,202 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $3.46 per share, with a total value of $52,598.92. Following the completion of the transaction, the director directly owned 6,715,051 shares of the company's stock, valued at approximately $23,234,076.46. The trade was a 0.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

AFC Gamma Stock Performance

Shares of NASDAQ AFCG traded up $0.16 during trading on Friday, reaching $3.60. 167,215 shares of the stock traded hands, compared to its average volume of 234,677. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $81.61 million, a P/E 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. The company has a 50-day moving average of $3.00 and a 200-day moving average of $2.92.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced 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. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The company had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. Analysts forecast that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Tuesday, June 30th. AFC Gamma's dividend payout ratio (DPR) is currently 105.26%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AFCG. Weiss Ratings raised shares of AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 20th. Wall Street Zen lowered shares of AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus 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.

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