Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Buys $156,954.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 60,600 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were bought at an average cost of $2.59 per share, with a total value of $156,954.00. Following the transaction, the director directly owned 6,198,589 shares of the company’s stock, valued at approximately $16,054,345.51. This represents a 0.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

AFC Gamma Stock Down 8.8%

Shares of NASDAQ:AFCG opened at $2.50 on Friday. The firm has a market cap of $58.83 million, a PE ratio of -2.63 and a beta of 1.02. The company has a fifty day simple moving average of $2.42 and a 200 day simple moving average of $3.06. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.12. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $6.52.

AFC Gamma (NASDAQ:AFCG) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). The company had revenue of $8.71 million for the quarter, compared to the consensus estimate of $5.36 million. AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. On average, equities research analysts anticipate that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given 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 dividend yield of 8.0%. AFC Gamma’s dividend payout ratio (DPR) is presently -55.79%.

Analysts Set New Price Targets

AFCG has been the subject of several research analyst reports. 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. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, AFC Gamma currently has a consensus rating of “Sell” and an average price target of $4.50.

About AFC Gamma

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.