AFC Gamma (NASDAQ:AFCG) Stock: Insider Leonard Tannenbaum Acquires 44,643 Shares

Key Points

• Insider buying: Director Leonard Tannenbaum purchased 44,643 AFC Gamma shares at an average price of $3.63, investing about $162,054 and increasing his ownership to 7.11 million shares.
• Financial performance and dividend: AFC Gamma reported quarterly EPS of $0.23, beating estimates of $0.19, though revenue missed expectations. The company declared a $0.05 quarterly dividend, representing a 5.6% annualized yield.
• Market outlook: Shares recently traded around $3.60, while analyst sentiment remained cautious, with ratings split between Hold and Sell and an overall “Reduce” consensus.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 44,643 shares of the business's stock in a transaction dated Wednesday, September 30th. The shares were bought at an average price of $3.63 per share, for a total transaction of $162,054.09. Following the completion of the acquisition, the director owned 7,109,614 shares in the company, valued at approximately $25,807,898.82. This trade represents a 0.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

AFC Gamma Trading Down 0.6%

Shares of AFCG traded down $0.02 during mid-day trading on Wednesday, hitting $3.60. The company had a trading volume of 109,759 shares, compared to its average volume of 216,455. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $4.01. The business's 50-day simple moving average is $3.23 and its 200-day simple moving average is $3.11. The stock has a market cap of $81.62 million, a PE ratio of 18.95 and a beta of 0.95. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $8.59 million. Sell-side analysts forecast that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on AFCG. Wall Street Zen lowered AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research note 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.com, the stock presently has an average rating of "Reduce".

About AFC Gamma

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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