Leonard Tannenbaum Buys 25,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

Key Points

• Director Leonard Tannenbaum purchased 25,000 AFC Gamma shares at an average price of $3.50, investing $87,500 and increasing his stake by 0.36% to 6.95 million shares.
• AFC Gamma’s latest quarterly results exceeded EPS expectations, reporting $0.23 per share versus the $0.19 consensus, though revenue of $6.77 million fell short of estimates.
• The company declared a quarterly dividend of $0.05 per share, equivalent to a $0.20 annual payout and a 5.8% yield; analysts maintain a generally negative “Reduce” consensus rating.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 25,000 shares of AFC Gamma stock in a transaction dated Thursday, September 17th. The shares were acquired at an average cost of $3.50 per share, with a total value of $87,500.00. Following the completion of the acquisition, the director directly owned 6,952,446 shares in the company, valued at $24,333,561. This trade represents a 0.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

AFC Gamma Price Performance

NASDAQ AFCG traded down $0.04 on Friday, reaching $3.43. The company's stock had a trading volume of 88,002 shares, compared to its average volume of 222,860. AFC Gamma Inc. has a 52 week low of $2.06 and a 52 week high of $4.53. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market cap of $77.76 million, a PE ratio of 18.05 and a beta of 0.95. The business has a 50-day moving average price of $3.12 and a 200 day moving average price of $3.05.

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

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.20 annualized dividend and a yield of 5.8%. AFC Gamma's payout ratio is currently 105.26%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AFCG shares. Wall Street Zen lowered AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AFC Gamma currently has a consensus rating of "Reduce".

About AFC Gamma

AFC Gamma, Inc NASDAQ: AFCG is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.

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