AFC Gamma (NASDAQ:AFCG) Stock: Insider Leonard Tannenbaum Acquires 23,072 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 23,072 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was bought at an average cost of $3.49 per share, for a total transaction of $80,521.28. Following the purchase, the director directly owned 6,985,518 shares of the company’s stock, valued at approximately $24,379,457.82. This trade represents a 0.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AFC Gamma Trading Down 0.6%

AFCG traded down $0.02 during midday trading on Thursday, reaching $3.48. 62,858 shares of the company were exchanged, compared to its average volume of 219,125. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. AFC Gamma Inc. has a one year low of $2.06 and a one year high of $4.20. The stock has a market capitalization of $78.90 million, a P/E ratio of 18.32 and a beta of 0.95. The stock’s 50-day simple moving average is $3.17 and its 200 day simple moving average is $3.08.

AFC Gamma (NASDAQ:AFCG) last announced 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. The company had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. As a group, analysts forecast that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, September 30th. AFC Gamma’s dividend payout ratio is presently 105.26%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AFC Gamma has an average rating of “Reduce”.

AFC Gamma Company Profile

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.