Leonard Tannenbaum Acquires 29,000 Shares of AFC Gamma (NASDAQ:AFCG) Stock

Key Points

• Director Leonard Tannenbaum bought 29,000 shares on March 5 at an average price of $2.44, a $70,760 purchase that raised his stake to 5,890,098 shares (a 0.49% increase) worth roughly $14.37 million.
• AFC Gamma reported Q results showing ($0.12) EPS (missing the $0.06 consensus) but revenue of $8.71M topped expectations; the stock trades around $2.57 with a market cap near $60.5M and a 52-week range of $2.06–$8.55.
• The company announced a quarterly dividend of $0.05 (7.8% yield, ex-dividend March 31), while analysts generally rate the stock as Reduce/Sell with a consensus price target of $5.75.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 29,000 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was acquired at an average price of $2.44 per share, with a total value of $70,760.00. Following the purchase, the director directly owned 5,890,098 shares of the company's stock, valued at approximately $14,371,839.12. The trade was a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AFC Gamma Stock Performance

AFCG traded down $0.05 during midday trading on Monday, hitting $2.57. 681,124 shares of the company traded hands, compared to its average volume of 369,494. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12. The company's 50-day moving average is $2.47 and its 200 day moving average is $3.18. AFC Gamma Inc. has a 52 week low of $2.06 and a 52 week high of $8.55. The firm has a market capitalization of $60.47 million, a PE ratio of -2.71 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.18). AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. The company had revenue of $8.71 million for the quarter, compared to analysts' expectations of $5.36 million. On average, research analysts expect that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma's dividend payout ratio (DPR) is presently -21.05%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Zacks Research lowered shares of AFC Gamma from a "hold" rating to a "strong sell" rating in a research report on Thursday. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AFC Gamma in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $5.75.

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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