AFC Gamma (NASDAQ:AFCG) Director Buys 5,228 Shares of Stock

AFC Gamma Inc. (NASDAQ:AFCG – Get Free Report) Director Leonard Tannenbaum acquired 5,228 shares of AFC Gamma stock in a transaction that occurred on Friday, September 25th. The stock was acquired at an average price of $3.52 per share, with a total value of $18,402.56. Following the completion of the purchase, the director directly owned 7,014,217 shares in the company, valued at $24,690,043.84. This represents a 0.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

AFC Gamma Price Performance

Shares of AFC Gamma stock traded up $0.03 on Monday, reaching $3.59. The stock had a trading volume of 99,011 shares, compared to its average volume of 217,478. The business’s 50 day moving average is $3.20 and its two-hundred day moving average is $3.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market cap of $81.39 million, a P/E ratio of 18.89 and a beta of 0.95. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $4.20.

AFC Gamma (NASDAQ:AFCG – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.23 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 firm had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. As a group, research analysts anticipate that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Announces Dividend

The business 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 $0.05 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.20 annualized dividend and a yield of 5.6%. AFC Gamma’s payout ratio is 105.26%.

Analysts Set New Price Targets

AFCG has been the topic of several recent research reports. Wall Street Zen lowered 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 equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Check Out Our Latest Stock Report on AFC Gamma

About AFC Gamma

(Get Free Report)

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.

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