Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Buys 15,000 Shares of Stock

by · The Cerbat Gem

AFC Gamma Inc. (NASDAQ:AFCG – Get Free Report) Director Leonard Tannenbaum bought 15,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was acquired at an average cost of $2.88 per share, for a total transaction of $43,200.00. Following the completion of the acquisition, the director directly owned 5,707,098 shares in the company, valued at approximately $16,436,442.24. This trade represents a 0.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Stock Performance

Shares of AFCG traded up $0.08 during mid-day trading on Wednesday, hitting $2.96. 265,045 shares of the company’s stock were exchanged, compared to its average volume of 197,274. The firm has a market capitalization of $66.87 million, a P/E ratio of -2.85 and a beta of 1.03. AFC Gamma Inc. has a fifty-two week low of $2.52 and a fifty-two week high of $9.71. The business’s 50 day moving average is $3.31 and its two-hundred day moving average is $4.17. The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.13.

AFC Gamma (NASDAQ:AFCG – Get Free Report) last announced its earnings results on Wednesday, November 12th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of ($3.18) million during the quarter, compared to analysts’ expectations of $6.55 million. AFC Gamma had a negative net margin of 70.46% and a positive return on equity of 8.45%. On average, equities analysts expect that AFC Gamma Inc. will post 1.64 earnings per share for the current year.

AFC Gamma Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.15 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 20.3%. AFC Gamma’s payout ratio is -57.69%.

Analysts Set New Price Targets

Several research analysts have issued reports on AFCG shares. Alliance Global Partners cut AFC Gamma from a “buy” rating to a “hold” rating and set a $4.50 price objective for the company. in a research report on Friday, August 15th. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of AFC Gamma to a “hold” rating in a report on Thursday, November 13th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $5.75.

Read Our Latest Report on AFCG

About AFC Gamma

(Get Free Report)

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.

Further Reading