Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Acquires 90,600 Shares of Stock

Key Points

• Director Leonard Tannenbaum bought 90,600 shares of AFC Gamma at an average price of $2.59 (total ~$234,654), raising his holdings to 6,137,989 shares — a 1.5% increase, disclosed in an SEC filing.
• AFC Gamma declared a quarterly dividend of $0.05 per share (annualized $0.20), implying a yield of about 7.3%, with an ex-dividend date of March 31 and payment on April 15.
• The company reported quarterly EPS of ($0.12), missing the $0.06 consensus while posting revenue of $8.71M, and analysts maintain an average "Sell" rating with a $4.50 target.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 90,600 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was bought at an average price of $2.59 per share, for a total transaction of $234,654.00. Following the purchase, the director owned 6,137,989 shares in the company, valued at approximately $15,897,391.51. This trade represents a 1.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

AFC Gamma Stock Up 2.2%

Shares of NASDAQ:AFCG traded up $0.06 during trading on Thursday, reaching $2.74. 274,422 shares of the company traded hands, compared to its average volume of 346,161. The firm has a fifty day simple moving average of $2.43 and a 200 day simple moving average of $3.09. The firm has a market cap of $64.47 million, a P/E ratio of -2.88 and a beta of 1.02. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $6.52. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.18). AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%.The company had revenue of $8.71 million during the quarter, compared to analyst estimates of $5.36 million. Analysts anticipate that AFC Gamma Inc. will post 1.64 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma's dividend payout ratio is presently -55.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a "sell (d)" rating on shares of AFC Gamma in a report on Wednesday, January 21st. Zacks Research downgraded AFC Gamma from a "hold" rating to a "strong sell" rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Sell" and an average target price of $4.50.

About AFC Gamma

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company's primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.

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