Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Acquires 15,000 Shares

Key Points

• Insider buying: AFC Gamma Director Leonard Tannenbaum purchased 15,000 shares at an average price of $3.55, investing $53,250 and increasing his stake to nearly 6.9 million shares.
• Financial results: The company reported quarterly EPS of $0.23, exceeding analyst expectations of $0.19, although revenue of $6.77 million fell short of the $8.59 million estimate.
• Dividend and outlook: AFC Gamma declared a quarterly dividend of $0.05 per share, implying a 5.7% annualized yield, while analysts maintain a consensus “Reduce” rating on the stock.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 15,000 shares of the stock in a transaction dated Friday, September 11th. The stock was acquired at an average price of $3.55 per share, with a total value of $53,250.00. Following the completion of the acquisition, the director owned 6,899,299 shares in the company, valued at approximately $24,492,511.45. The trade was a 0.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Trading Up 0.6%

AFCG traded up $0.02 on Tuesday, hitting $3.52. 29,400 shares of the company were exchanged, compared to its average volume of 225,227. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $4.65. The firm has a fifty day simple moving average of $3.09 and a two-hundred day simple moving average of $3.03. The stock has a market capitalization of $79.81 million, a PE ratio of 18.53 and a beta of 0.95.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) 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 analyst estimates of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. Sell-side analysts expect that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Wednesday, September 30th. AFC Gamma's payout ratio is currently 105.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AFCG. Weiss Ratings upgraded AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. One equities 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, the company presently has a consensus rating of "Reduce".

AFC Gamma Company Profile

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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