Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Purchases 14,366 Shares of Stock

Key Points

• Insider purchase: Director Leonard Tannenbaum acquired 14,366 shares on March 23 at an average price of $2.59, a transaction worth about $37,208 that increased his holding to 6,328,192 shares (a 0.23% rise).
• Earnings and stock move: AFC Gamma reported a quarterly loss of ($0.12) per share (missing estimates) while posting $8.71M revenue, and the stock was down about 3.3% with a market cap near $61.7M and a 52-week range of $2.06–$6.42.
• Dividend and analyst outlook: The company announced a $0.05 quarterly dividend (annualized $0.20, ~7.6% yield; ex-dividend March 31), while analysts maintain a consensus "Sell" rating with an average target price of $4.50.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 14,366 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average price of $2.59 per share, with a total value of $37,207.94. Following the completion of the acquisition, the director owned 6,328,192 shares of the company's stock, valued at $16,390,017.28. This represents a 0.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AFC Gamma Stock Down 3.3%

Shares of AFC Gamma stock opened at $2.62 on Wednesday. The firm has a market cap of $61.65 million, a PE ratio of -2.76 and a beta of 1.02. The business's 50 day simple moving average is $2.41 and its 200 day simple moving average is $3.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.45 and a current ratio of 3.45. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $6.42.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last released 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). The firm had revenue of $8.71 million for the quarter, compared to analyst estimates of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. On average, analysts predict that AFC Gamma Inc. will post 1.64 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.20 annualized dividend and a yield of 7.6%. AFC Gamma's dividend payout ratio is presently -55.79%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research lowered shares of AFC Gamma from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 5th. Weiss Ratings restated a "sell (d)" rating on shares of AFC Gamma in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus 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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