AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 10,000 Shares of Stock

Key Points

• Insider purchase: Director Leonard Tannenbaum bought 10,000 AFC Gamma shares at an average price of $3.49, increasing his direct holdings to 6,962,446 shares.
• Stock and financial performance: AFCG traded near $3.50, while its latest quarterly EPS of $0.23 exceeded estimates of $0.19, despite revenue falling short of expectations.
• Dividend and analyst outlook: The company declared a quarterly dividend of $0.05, representing a 5.7% annualized yield, but analysts maintain a consensus “Reduce” rating and the payout ratio exceeds 100%.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 10,000 shares of AFC Gamma stock in a transaction on Friday, September 18th. The shares were bought at an average price of $3.49 per share, with a total value of $34,900.00. Following the purchase, the director directly owned 6,962,446 shares in the company, valued at approximately $24,298,936.54. The trade was a 0.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

AFC Gamma Stock Performance

Shares of AFCG traded up $0.05 during mid-day trading on Tuesday, reaching $3.50. The company had a trading volume of 62,466 shares, compared to its average volume of 220,896. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $4.29. 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 has a market capitalization of $79.34 million, a P/E ratio of 18.42 and a beta of 0.95. The stock has a 50 day moving average of $3.15 and a two-hundred day moving average of $3.07.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The firm had revenue of $6.77 million for the quarter, compared to analysts' expectations of $8.59 million. On average, analysts expect that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, September 30th. AFC Gamma's dividend payout ratio (DPR) is currently 105.26%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen downgraded shares of AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings upgraded AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, AFC Gamma currently 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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