Key Points
- Director Leonard Tannenbaum bought 29,000 shares on March 5 at $2.44 each for $70,760, increasing his stake to 5,890,098 shares (a 0.49% ownership increase) valued at about $14.37 million.
- AFC Gamma reported a quarterly loss of ($0.12) EPS, missing estimates by $0.18 while revenue beat at $8.71 million, and analysts carry an average "Reduce" rating with a $5.75 target.
- The company declared a quarterly dividend of $0.05 (annualized $0.20) representing a 7.8% yield, with an ex-dividend date of March 31 and payment on April 15, despite a negative dividend payout ratio (-55.79%).
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 29,000 shares of the firm's stock in a transaction on Thursday, March 5th. The stock was purchased at an average cost of $2.44 per share, for a total transaction of $70,760.00. Following the completion of the acquisition, the director owned 5,890,098 shares in the company, valued at approximately $14,371,839.12. This trade represents a 0.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
AFC Gamma Price Performance
Shares of NASDAQ:AFCG opened at $2.57 on Tuesday. The firm has a 50 day moving average of $2.46 and a 200-day moving average of $3.17. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $8.55. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $60.47 million, a PE ratio of -2.71 and a beta of 1.02.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly 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). The firm had revenue of $8.71 million for the quarter, compared to analyst estimates of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. On average, equities research analysts predict that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.
AFC Gamma Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma's dividend payout ratio (DPR) is currently -55.79%.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Weiss Ratings reissued a "sell (d)" rating on shares of AFC Gamma in a report on Wednesday, January 21st. Zacks Research lowered AFC Gamma from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 5th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $5.75.
Check Out Our Latest Stock Report on AFC Gamma
AFC Gamma Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
