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

Key Points

• Director Leonard Tannenbaum bought 25,000 AFC Gamma shares at an average price of $3.28, investing $82,000 and increasing his holdings to 6.62 million shares.
• AFC Gamma shares rose 5.5% to $3.45, while the company’s latest quarterly results showed adjusted earnings of $0.23 per share, above estimates, but revenue of $6.77 million below expectations.
• The company maintains a quarterly dividend of $0.05 per share, equivalent to a 5.8% annualized yield, although analysts’ consensus rating remains “Reduce.”

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 25,000 shares of the firm's stock in a transaction on Friday, August 21st. The stock was bought at an average cost of $3.28 per share, with a total value of $82,000.00. Following the completion of the purchase, the director owned 6,620,445 shares of the company's stock, valued at approximately $21,715,059.60. This represents a 0.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

AFC Gamma Stock Up 5.5%

Shares of NASDAQ AFCG traded up $0.18 during trading on Monday, hitting $3.45. 143,907 shares of the company traded hands, compared to its average volume of 237,957. The firm has a market capitalization of $78.22 million, a price-to-earnings ratio of 18.16 and a beta of 0.91. The business's fifty day moving average is $2.99 and its 200 day moving average is $2.88. 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 fifty-two week low of $2.06 and a fifty-two week high of $5.10.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The business had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. Equities research analysts predict that AFC Gamma Inc. will post 0.78 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. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Tuesday, June 30th. AFC Gamma's dividend payout ratio (DPR) is currently 105.26%.

Analysts Set New Price Targets

AFCG has been the topic of a number of analyst reports. Wall Street Zen lowered shares of 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. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus 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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