AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Buys 5,228 Shares of Stock

Key Points

• Director Leonard Tannenbaum purchased 5,228 AFC Gamma shares at an average price of $3.52, investing approximately $18,403 and increasing his stake by 0.07% to more than 7 million shares.
• AFC Gamma shares traded at $3.59, while the company reported quarterly EPS of $0.23, exceeding the $0.19 analyst consensus. Revenue of $6.77 million, however, fell short of the $8.59 million estimate.
• The company declared a quarterly dividend of $0.05 per share, equivalent to a 5.6% annualized yield, but its payout ratio is high at 105.26%; analysts maintain a consensus rating of “Reduce.”

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 5,228 shares of the business's stock in a transaction dated Friday, September 25th. The shares were purchased at an average cost of $3.52 per share, with a total value of $18,402.56. Following the acquisition, the director owned 7,014,217 shares in the company, valued at $24,690,043.84. This trade represents a 0.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

AFC Gamma Price Performance

AFCG traded up $0.03 during trading on Monday, hitting $3.59. 99,011 shares of the stock traded hands, compared to its average volume of 217,478. The business has a 50 day moving average price of $3.20 and a 200 day moving average price of $3.09. The company has a market cap of $81.39 million, a price-to-earnings ratio of 18.89 and a beta of 0.95. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $4.20. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced its quarterly 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 company had revenue of $6.77 million for the quarter, compared to analyst estimates of $8.59 million. Equities research analysts forecast that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.20 annualized dividend and a yield of 5.6%. AFC Gamma's payout ratio is presently 105.26%.

Wall Street Analyst Weigh In

AFCG has been the topic of a number of research analyst reports. Wall Street Zen cut shares of AFC Gamma from a "buy" rating to a "hold" rating in a research 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 investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus 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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