AFC Gamma (NASDAQ:AFCG) Director Purchases $259,621.02 in Stock

by · The Markets Daily

AFC Gamma Inc. (NASDAQ:AFCG – Get Free Report) Director Leonard Tannenbaum purchased 102,213 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $2.54 per share, with a total value of $259,621.02. Following the purchase, the director owned 5,993,581 shares in the company, valued at $15,223,695.74. This trade represents a 1.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

AFC Gamma Stock Performance

AFC Gamma stock traded down $0.01 during midday trading on Wednesday, hitting $2.63. 153,591 shares of the company’s stock were exchanged, compared to its average volume of 233,466. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.45 and a current ratio of 3.45. The stock has a market cap of $61.88 million, a price-to-earnings ratio of -2.77 and a beta of 1.02. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $8.55. The firm’s 50 day simple moving average is $2.45 and its 200 day simple moving average is $3.16.

AFC Gamma (NASDAQ:AFCG – Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported ($0.12) EPS 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 business had revenue of $8.71 million during the quarter, compared to analysts’ expectations of $5.36 million. Equities research analysts predict that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 annualized dividend and a yield of 7.6%. AFC Gamma’s dividend payout ratio is currently -55.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AFCG shares. Zacks Research lowered AFC Gamma from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $5.75.

View Our Latest Stock Analysis on AFC Gamma

AFC Gamma Company Profile

(Get Free Report)

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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