Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Purchases 45,829 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 45,829 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $3.06 per share, with a total value of $140,236.74. Following the acquisition, the director owned 6,562,604 shares of the company’s stock, valued at $20,081,568.24. This represents a 0.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

AFC Gamma Trading Up 9.8%

AFCG stock traded up $0.31 on Monday, reaching $3.47. The company’s stock had a trading volume of 327,538 shares, compared to its average volume of 241,156. The firm has a market cap of $78.66 million, a PE ratio of 18.26 and a beta of 0.91. The business has a fifty day simple moving average of $2.99 and a two-hundred day simple moving average of $2.85. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $5.10. 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 (NASDAQ:AFCG) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. As a group, research analysts forecast that AFC Gamma Inc. will post 0.78 EPS for the current year.

AFC Gamma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.8%. AFC Gamma’s payout ratio is presently 105.26%.

Wall Street Analyst Weigh In

AFCG has been the subject of several research analyst reports. Wall Street Zen lowered shares of AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a report on Friday, July 17th. Finally, Zacks Research raised AFC Gamma from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AFC Gamma presently has a consensus 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.