AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 18,500 Shares of Stock

Key Points

• Director Leonard Tannenbaum bought 18,500 AFC Gamma shares at an average price of $3.08, investing $56,980 and increasing his direct holdings to about 7.13 million shares.
• AFC Gamma reported quarterly EPS of $0.28, beating the $0.16 consensus estimate, and revenue of $8.57 million versus expectations of $8.30 million. Shares rose 8.2% to $3.43 in Monday trading.
• Analyst sentiment remains cautious: MarketBeat lists a consensus “Reduce” rating. The company’s quarterly dividend is $0.05 per share, equivalent to a 5.8% annualized yield at the cited share price.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 18,500 shares of the firm's stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $3.08 per share, with a total value of $56,980.00. Following the completion of the purchase, the director directly owned 7,128,114 shares of the company's stock, valued at $21,954,591.12. This represents a 0.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AFC Gamma Stock Up 8.2%

AFCG traded up $0.26 during trading on Monday, reaching $3.43. 90,978 shares of the stock were exchanged, compared to its average volume of 195,765. The stock has a market cap of $77.76 million, a P/E ratio of 3.30 and a beta of 1.00. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $3.84. The stock's 50 day moving average price is $3.30 and its two-hundred day moving average price is $2.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.12. AFC Gamma had a net margin of 71.50% and a return on equity of 4.62%. The firm had revenue of $8.57 million during the quarter, compared to analysts' expectations of $8.30 million. Equities analysts expect that AFC Gamma Inc. will post 0.71 EPS for the current year.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Wednesday, September 30th. AFC Gamma's dividend payout ratio is presently 19.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have 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 raised AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 20th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce".

About AFC Gamma

AFC Gamma, Inc is a specialty finance company focused primarily on providing institutional debt financing to businesses operating in the regulated cannabis industry. The company has historically targeted established cannabis operators and other participants in the industry that may have limited access to traditional bank financing.

Its financing activities have included senior secured loans, mortgage-backed loans and other structured debt arrangements. Borrowers may use these funds to support the acquisition, development or expansion of cannabis cultivation, processing, manufacturing and retail facilities, as well as related working-capital and corporate needs.

AFC Gamma was founded in 2019 and became a publicly traded company in 2021.

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