Key Points
- Director Leonard Tannenbaum bought 10,000 AFC Gamma shares at an average price of $3.49, investing $34,900 and increasing his ownership to 6.96 million shares.
- AFC Gamma reported quarterly EPS of $0.23, beating estimates of $0.19, although revenue of $6.77 million fell short of the $8.59 million consensus forecast.
- The company declared a quarterly dividend of $0.05 per share, equating to a 5.7% annualized yield, while analysts maintain a cautious consensus “Reduce” rating.
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 10,000 shares of the business's stock in a transaction on Friday, September 18th. The stock was bought at an average price of $3.49 per share, with a total value of $34,900.00. Following the purchase, the director owned 6,962,446 shares in the company, valued at $24,298,936.54. This trade represents a 0.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
AFC Gamma Trading Up 1.4%
Shares of AFC Gamma stock opened at $3.50 on Wednesday. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $4.29. The company has a market cap of $79.34 million, a price-to-earnings ratio of 18.42 and a beta of 0.95. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The company's 50-day moving average price is $3.16 and its 200-day moving average price is $3.07.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. On average, equities analysts expect that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.
AFC Gamma Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, September 30th. AFC Gamma's dividend payout ratio (DPR) is presently 105.26%.
Analyst Upgrades and Downgrades
AFCG has been the topic of a number of recent analyst reports. Wall Street Zen downgraded AFC Gamma from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce".
Check Out Our Latest Research Report on AFCG
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.
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