AFC Gamma (NASDAQ:AFCG) Stock: Insider Leonard Tannenbaum Buys 20,000 Shares

Key Points

• Insider buying: Director Leonard Tannenbaum purchased 20,000 AFC Gamma shares at an average price of $3.49, increasing his stake by 0.29% to 7,008,989 shares.
• Stock and financial performance: AFCG shares recently traded at $3.59, while the company’s latest quarterly EPS of $0.23 exceeded estimates of $0.19. Revenue of $6.77 million, however, fell short of the $8.59 million consensus forecast.
• Dividend and sentiment: The company declared a quarterly dividend of $0.05, implying a 5.6% annualized yield, but analysts’ average rating remains “Reduce,” with one Hold and one Sell rating.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 20,000 shares of the business's stock in a transaction dated Thursday, September 24th. The stock was bought at an average cost of $3.49 per share, for a total transaction of $69,800.00. Following the purchase, the director owned 7,008,989 shares in the company, valued at $24,461,371.61. This trade represents a 0.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

AFC Gamma Trading Up 0.8%

Shares of AFCG stock traded up $0.03 on Monday, reaching $3.59. The company had a trading volume of 99,011 shares, compared to its average volume of 217,478. The company has a 50-day moving average of $3.20 and a 200-day moving average of $3.09. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $4.20. The stock has a market cap of $81.39 million, a PE ratio of 18.89 and a beta of 0.95. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last released its quarterly earnings data 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 net margin of 15.64% and a return on equity of 2.85%. The business had revenue of $6.77 million during the quarter, compared to analysts' expectations of $8.59 million. On average, equities 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 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 of this dividend 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 currently 105.26%.

Analyst Ratings Changes

Several brokerages have issued reports on AFCG. Weiss Ratings upgraded shares of AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 20th. Wall Street Zen cut shares of AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average 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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