Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Buys $69,800.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 20,000 shares of AFC Gamma stock in a transaction on Thursday, September 24th. The shares were acquired at an average cost of $3.49 per share, for a total transaction of $69,800.00. Following the completion of the acquisition, the director directly owned 7,008,989 shares in the company, valued at approximately $24,461,371.61. The trade was a 0.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Trading Up 0.8%

Shares of NASDAQ:AFCG traded up $0.03 during mid-day trading on Monday, reaching $3.59. 99,011 shares of the company’s stock were exchanged, compared to its average volume of 217,478. 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 twelve month low of $2.06 and a twelve month high of $4.20. The firm has a market capitalization of $81.39 million, a price-to-earnings ratio of 18.89 and a beta of 0.95. The business’s fifty day moving average price is $3.20 and its 200-day moving average price is $3.09.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The company had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $8.59 million. On average, research analysts predict that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.6%. AFC Gamma’s dividend payout ratio is presently 105.26%.

Analyst Ratings Changes

AFCG has been the subject of a number of research reports. Wall Street Zen cut shares of AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

AFC Gamma Company Profile

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.