Insider Buying: AFC Gamma (NASDAQ:AFCG) Director Buys $257,304.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 90,600 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $2.84 per share, for a total transaction of $257,304.00. Following the acquisition, the director directly owned 6,516,775 shares of the company’s stock, valued at approximately $18,507,641. The trade was a 1.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AFC Gamma Stock Down 1.1%

Shares of AFC Gamma stock opened at $3.48 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 1.41. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $5.78. The stock has a market capitalization of $81.88 million, a price-to-earnings ratio of -5.44 and a beta of 0.77. The company’s 50 day moving average price is $2.85 and its 200-day moving average price is $2.75.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.18). AFC Gamma had a positive return on equity of 1.48% and a negative net margin of 43.21%.The firm had revenue of $9.07 million during the quarter, compared to the consensus estimate of $5.36 million. Equities research analysts forecast that AFC Gamma Inc. will post 0.49 EPS for the current year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.05 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.20 annualized dividend and a yield of 5.7%. AFC Gamma’s payout ratio is -31.25%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AFCG shares. Zacks Research upgraded shares of AFC Gamma from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, AFC Gamma presently has an average rating of “Reduce” 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.