Key Points
- Director Leonard Tannenbaum purchased 25,000 AFC Gamma shares at $3.50 each, investing $87,500 and increasing his direct ownership to 6,952,446 shares.
- AFC Gamma reported quarterly EPS of $0.23, exceeding estimates of $0.19, though revenue of $6.77 million fell short of the $8.59 million consensus forecast.
- The company declared a $0.05 quarterly dividend, equivalent to a 5.8% annualized yield, while analyst sentiment remains negative with a consensus rating of “Reduce.”
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 25,000 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The stock was bought at an average cost of $3.50 per share, for a total transaction of $87,500.00. Following the completion of the acquisition, the director directly owned 6,952,446 shares of the company's stock, valued at $24,333,561. This represents a 0.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
AFC Gamma Price Performance
Shares of AFCG stock opened at $3.43 on Friday. The firm has a market cap of $77.76 million, a P/E ratio of 18.05 and a beta of 0.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $4.53. The firm has a fifty day moving average of $3.13 and a two-hundred day moving average of $3.05.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The business had revenue of $6.77 million for the quarter, compared to analyst estimates of $8.59 million. As a group, research analysts anticipate that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.
AFC Gamma Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.05 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. AFC Gamma's dividend payout ratio (DPR) is presently 105.26%.
Analyst Ratings Changes
AFCG has been the subject of several recent research reports. Wall Street Zen lowered shares of AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 20th. One research 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 has a consensus rating of "Reduce".
Get Our Latest Report on AFC Gamma
AFC Gamma Company Profile
(
Get Free Report)
AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.
Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.
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].
