Leonard Tannenbaum Buys 53,273 Shares of AFC Gamma (NASDAQ:AFCG) Stock

Key Points

• Director Leonard Tannenbaum purchased 53,273 AFC Gamma shares at an average price of $3.60, investing approximately $191,783 and increasing his ownership by 0.79% to 6.83 million shares.
• AFC Gamma’s shares recently traded at $3.49, while the company reported quarterly EPS of $0.23—beating estimates—but revenue of $6.77 million fell short of expectations.
• The company pays a $0.05 quarterly dividend, equal to a 5.7% annualized yield, though its 105.26% payout ratio is high; analysts collectively rate the stock “Reduce.”

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 53,273 shares of the stock in a transaction on Monday, August 31st. The shares were acquired at an average cost of $3.60 per share, for a total transaction of $191,782.80. Following the purchase, the director owned 6,834,076 shares in the company, valued at $24,602,673.60. The trade was a 0.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Price Performance

Shares of AFC Gamma stock traded down $0.11 during trading hours on Tuesday, reaching $3.49. 60,052 shares of the company's stock were exchanged, compared to its average volume of 233,388. The business has a fifty day moving average of $3.01 and a two-hundred day moving average of $2.94. The company has a market capitalization of $79.12 million, a P/E ratio of 18.37 and a beta of 0.91. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $5.00.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $6.77 million for 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%. As a group, research analysts predict that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.05 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.7%. AFC Gamma's dividend payout ratio is presently 105.26%.

Analyst Ratings Changes

AFCG has been the topic of several recent research reports. Wall Street Zen cut AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average 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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