Key Points
- Director Leonard Tannenbaum bought 20,000 shares of AFC Gamma at an average price of $3.03 (total ~$60,600), raising his direct stake to 5,836,098 shares (a 0.34% increase) per an SEC filing.
- AFC Gamma recently declared a quarterly dividend of $0.15 (annualized $0.60), implying a ~19.6% yield
- Trading around $3.06"Reduce" with a $5.75 target.
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 20,000 shares of the company's stock in a transaction on Wednesday, December 10th. The shares were acquired at an average price of $3.03 per share, with a total value of $60,600.00. Following the transaction, the director directly owned 5,836,098 shares of the company's stock, valued at approximately $17,683,376.94. This trade represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
AFC Gamma Trading Down 0.8%
AFC Gamma stock traded down $0.03 during mid-day trading on Thursday, hitting $3.06. The company's stock had a trading volume of 11,689 shares, compared to its average volume of 221,574. AFC Gamma Inc. has a one year low of $2.52 and a one year high of $9.66. The stock has a market cap of $69.03 million, a PE ratio of -2.94 and a beta of 1.03. The company has a 50 day moving average of $3.20 and a 200-day moving average of $4.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.04 and a current ratio of 3.04.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of ($3.18) million for the quarter, compared to the consensus estimate of $6.55 million. AFC Gamma had a negative net margin of 70.46% and a positive return on equity of 8.45%. On average, research analysts anticipate 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 was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 19.6%. AFC Gamma's dividend payout ratio is presently -57.69%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Zacks Research raised shares of AFC Gamma to a "hold" rating in a research note on Thursday, November 13th. Weiss Ratings restated a "sell (d)" rating on shares of AFC Gamma in a report on Wednesday, October 8th. Finally, Alliance Global Partners cut shares of AFC Gamma from a "buy" rating to a "hold" rating and set a $4.50 price target for the company. in a research report on Friday, August 15th. Four research 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 has an average rating of "Reduce" and a consensus target price of $5.75.
View Our Latest Stock Analysis on AFC Gamma
About AFC Gamma
(
Get Free Report)
AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.
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