Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Acquires 35,000 Shares

Key Points

• Director Leonard Tannenbaum bought 35,000 AFC Gamma shares at an average price of $3.46, investing $121,100 and increasing his direct stake by 0.51% to 6.88 million shares.
• AFCG shares recently traded at $3.55, with a market capitalization of approximately $80.5 million. The company reported quarterly EPS of $0.23, beating estimates, although revenue of $6.77 million fell short of expectations.
• AFC Gamma pays a quarterly dividend of $0.05, equivalent to a 5.6% annualized yield, but its payout ratio is high at 105.26%. Analysts maintain a generally cautious view, with the stock carrying an average “Reduce” rating.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 35,000 shares of AFC Gamma stock in a transaction dated Thursday, September 10th. The stock was acquired at an average cost of $3.46 per share, with a total value of $121,100.00. Following the completion of the transaction, the director directly owned 6,884,299 shares of the company's stock, valued at $23,819,674.54. This trade represents a 0.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AFC Gamma Stock Performance

AFCG stock traded up $0.16 on Friday, reaching $3.55. 62,320 shares of the company were exchanged, compared to its average volume of 227,159. The firm has a market capitalization of $80.48 million, a PE ratio of 18.68 and a beta of 0.95. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $4.70. The stock's fifty day moving average price is $3.07 and its 200 day moving average price is $3.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The firm had revenue of $6.77 million during the quarter, compared to the consensus estimate of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. On average, research analysts anticipate that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Tuesday, June 30th. AFC Gamma's dividend payout ratio (DPR) is presently 105.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AFCG shares. Weiss Ratings upgraded AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently 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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