AFC Gamma (NASDAQ:AFCG) Stock: Insider Leonard Tannenbaum Acquires 18,500 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 18,500 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was acquired at an average price of $3.08 per share, with a total value of $56,980.00. Following the completion of the purchase, the director owned 7,128,114 shares of the company’s stock, valued at $21,954,591.12. The trade was a 0.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AFC Gamma Stock Performance

Shares of AFC Gamma stock opened at $3.49 on Wednesday. The company has a 50 day moving average price of $3.29 and a 200 day moving average price of $2.98. The firm has a market capitalization of $78.18 million, a P/E ratio of 3.36 and a beta of 1.00. The company has a quick ratio of 1.34, a current ratio of 1.27 and a debt-to-equity ratio of 0.63. AFC Gamma Inc. has a 52 week low of $2.06 and a 52 week high of $3.84.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. The business had revenue of $8.57 million for the quarter, compared to analyst estimates of $8.30 million. AFC Gamma had a net margin of 71.50% and a return on equity of 4.57%. Sell-side analysts expect that AFC Gamma Inc. will post 0.71 EPS for the current year.

AFC Gamma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.7%. AFC Gamma’s payout ratio is 19.23%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AFCG. Weiss Ratings upgraded AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

About AFC Gamma

AFC Gamma, Inc. is a specialty finance company focused primarily on providing institutional debt financing to businesses operating in the regulated cannabis industry. The company has historically targeted established cannabis operators and other participants in the industry that may have limited access to traditional bank financing. Its financing activities have included senior secured loans, mortgage-backed loans and other structured debt arrangements. Borrowers may use these funds to support the acquisition, development or expansion of cannabis cultivation, processing, manufacturing and retail facilities, as well as related working-capital and corporate needs.