AFC Gamma (NASDAQ:AFCG) Shares Down 2.8% – Should You Sell?

Shares of AFC Gamma Inc. (NASDAQ:AFCG) fell 2.8% on Monday . The company traded as low as $2.70 and last traded at $2.73. 99,838 shares traded hands during trading, an increase of 7% from the average daily volume of 93,594 shares. The stock had previously closed at $2.81.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen raised AFC Gamma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a research report on Friday. Finally, Zacks Research raised AFC Gamma from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $4.50.

AFC Gamma Price Performance

The firm has a market capitalization of $64.24 million, a price-to-earnings ratio of -4.27 and a beta of 0.90. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average is $3.26 and its two-hundred day moving average is $2.83.

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 annualized dividend and a dividend yield of 7.3%. AFC Gamma’s payout ratio is presently -31.25%.

Insider Buying and Selling at AFC Gamma

In related news, Director Leonard M. Tannenbaum purchased 90,600 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $2.84 per share, with a total value of $257,304.00. Following the purchase, the director directly owned 6,516,775 shares in the company, valued at $18,507,641. This trade represents a 1.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 30.70% of the stock is currently owned by company insiders.

AFC Gamma Company Profile

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.