AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 30,000 Shares of Stock

Key Points

• Director Leonard Tannenbaum purchased 30,000 AFC Gamma shares at an average price of $3.41, investing $102,300 and increasing his direct stake by 0.45% to 6.65 million shares.
• AFCG shares rose 1.8% to $3.45, while the company’s latest quarterly earnings of $0.23 per share exceeded estimates, though revenue of $6.77 million fell short of forecasts.
• AFC Gamma maintains a quarterly dividend of $0.05 per share, equivalent to a 5.8% yield, but analyst sentiment remains cautious with an average rating of “Reduce.”

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 30,000 shares of the firm's stock in a transaction on Monday, August 24th. The shares were acquired at an average cost of $3.41 per share, with a total value of $102,300.00. Following the purchase, the director directly owned 6,650,445 shares of the company's stock, valued at approximately $22,678,017.45. This represents a 0.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

AFC Gamma Stock Up 1.8%

Shares of AFCG stock traded up $0.06 during trading hours on Wednesday, hitting $3.45. 67,695 shares of the company's stock traded hands, compared to its average volume of 235,899. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock's fifty day simple moving average is $2.99 and its two-hundred day simple moving average is $2.90. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $5.10. The stock has a market cap of $78.21 million, a price-to-earnings ratio of 18.16 and a beta of 0.91.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. On average, analysts expect 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 paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Tuesday, June 30th. AFC Gamma's dividend payout ratio (DPR) is currently 105.26%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AFCG shares. 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 downgraded AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average 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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