Leonard Tannenbaum Acquires 44,914 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 44,914 shares of the stock in a transaction on Tuesday, March 24th. The shares were bought at an average cost of $2.59 per share, with a total value of $116,327.26. Following the purchase, the director owned 6,373,106 shares of the company’s stock, valued at $16,506,344.54. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

AFC Gamma Price Performance

Shares of AFCG opened at $2.60 on Friday. The firm has a 50-day simple moving average of $2.42 and a two-hundred day simple moving average of $3.02. The stock has a market cap of $61.18 million, a PE ratio of -2.74 and a beta of 1.02. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $6.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45.

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

AFC Gamma Announces Dividend

The company also recently declared 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. This represents a $0.20 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Tuesday, March 31st. AFC Gamma’s dividend payout ratio is -55.79%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AFCG. Zacks Research cut AFC Gamma from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, AFC Gamma presently has an average rating of “Sell” and a consensus target price 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.