AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 15,018 shares of the stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $2.60 per share, with a total value of $39,046.80. Following the completion of the purchase, the director directly owned 6,013,101 shares in the company, valued at approximately $15,634,062.60. This trade represents a 0.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.
AFC Gamma Trading Down 1.1%
AFCG stock opened at $2.60 on Tuesday. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $6.82. The company has a market cap of $61.18 million, a P/E ratio of -2.74 and a beta of 1.02. The business has a fifty day moving average of $2.43 and a 200-day moving average of $3.11.
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 during the quarter, compared to the consensus estimate of $5.36 million. AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. As a group, equities research analysts expect that AFC Gamma Inc. will post 1.64 EPS for the current year.
AFC Gamma Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Tuesday, March 31st. AFC Gamma's dividend payout ratio (DPR) is -55.79%.
Analysts Set New Price Targets
Several brokerages have recently commented on AFCG. Weiss Ratings reiterated a "sell (d)" rating on shares of AFC Gamma in a research report on Wednesday, January 21st. Zacks Research cut shares of AFC Gamma from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Sell" and an average target price of $4.50.
View Our Latest Stock Report on AFCG
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.
Recommended 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].
