AFC Gamma (NASDAQ:AFCG) Director Buys 40,081 Shares of Stock

Key Points

• Director Leonard Tannenbaum purchased 40,081 AFC Gamma shares at an average price of $3.59, investing approximately $143,891 and increasing his stake by 0.57% to 7.06 million shares.
• AFC Gamma reported quarterly EPS of $0.23, surpassing the $0.19 consensus estimate, although revenue of $6.77 million fell short of the $8.59 million forecast.
• The company declared a quarterly dividend of $0.05 per share, equivalent to an annualized $0.20 payout and a 5.6% yield. Analysts remain cautious, with the stock carrying an average “Reduce” rating.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 40,081 shares of the business's stock in a transaction on Tuesday, September 29th. The stock was purchased at an average price of $3.59 per share, with a total value of $143,890.79. Following the purchase, the director owned 7,064,971 shares of the company's stock, valued at approximately $25,363,245.89. The trade was a 0.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

AFC Gamma Stock Performance

Shares of AFCG traded down $0.02 during midday trading on Wednesday, reaching $3.60. The stock had a trading volume of 109,759 shares, compared to its average volume of 216,455. The firm has a market cap of $81.62 million, a PE ratio of 18.95 and a beta of 0.95. The firm has a 50 day simple moving average of $3.23 and a 200-day simple moving average of $3.11. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $4.01. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The business had revenue of $6.77 million during the quarter, compared to the consensus estimate of $8.59 million. As a group, sell-side analysts anticipate that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Wednesday, September 30th. AFC Gamma's dividend payout ratio (DPR) is presently 105.26%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wall Street Zen lowered AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, AFC Gamma currently has an average 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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