AFC Gamma (NASDAQ:AFCG) Stock: Insider Leonard Tannenbaum Buys 10,673 Shares

Key Points

• Director Leonard Tannenbaum purchased 10,673 AFC Gamma shares at an average price of $3.57, investing $38,102.61 and increasing his holdings to 7,024,890 shares.
• AFC Gamma reported quarterly EPS of $0.23, exceeding the $0.19 analyst consensus, though revenue of $6.77 million fell short of the $8.59 million estimate.
• The company declared a quarterly dividend of $0.05, representing a 5.6% annualized yield, while analysts maintain a generally negative outlook with an average rating of “Reduce.”

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 10,673 shares of the firm's stock in a transaction on Monday, September 28th. The stock was bought at an average price of $3.57 per share, with a total value of $38,102.61. Following the completion of the purchase, the director owned 7,024,890 shares of the company's stock, valued at $25,078,857.30. This trade represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

AFC Gamma Stock Performance

NASDAQ AFCG traded down $0.02 during trading hours on Wednesday, hitting $3.60. The company had a trading volume of 109,759 shares, compared to its average volume of 216,455. The business has a fifty day simple moving average of $3.23 and a 200-day simple moving average of $3.11. The firm has a market cap of $81.62 million, a P/E 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 Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $4.01.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $6.77 million for the quarter, compared to analysts' expectations of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. Equities analysts predict that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AFCG shares. Wall Street Zen downgraded AFC Gamma from a "buy" rating to a "hold" rating in a research 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 research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently 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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