Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Purchases $44,686.68 in Stock

Key Points

• Director Leonard Tannenbaum bought 12,841 AFC Gamma shares at an average price of $3.48, investing $44,686.68 and increasing his direct ownership by 0.20% to 6.58 million shares.
• AFC Gamma shares rose 4.1% to $3.58, while quarterly EPS of $0.23 exceeded analysts’ $0.19 estimate; however, revenue of $6.77 million fell short of the $8.59 million consensus.
• The company pays a quarterly dividend of $0.05 per share, equivalent to a 5.6% annualized yield, but analysts maintain a cautious view with an average “Reduce” rating.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 12,841 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $3.48 per share, for a total transaction of $44,686.68. Following the completion of the purchase, the director directly owned 6,575,445 shares of the company's stock, valued at $22,882,548.60. This represents a 0.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

AFC Gamma Trading Up 4.1%

Shares of AFCG traded up $0.14 during midday trading on Wednesday, hitting $3.58. 123,052 shares of the stock were exchanged, compared to its average volume of 240,419. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $5.10. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a fifty day simple moving average of $2.99 and a 200 day simple moving average of $2.86. The firm has a market cap of $81.16 million, a P/E ratio of 18.84 and a beta of 0.91.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The firm had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. On average, research analysts anticipate that AFC Gamma Inc. will post 0.78 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.6%. AFC Gamma's dividend payout ratio is 105.26%.

Analyst Ratings Changes

Several research firms have recently commented on AFCG. Wall Street Zen lowered shares of AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AFC Gamma in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce".

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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