Key Points
- Insider purchase: Director Leonard Tannenbaum bought 3,471 AFC Gamma shares at an average price of $3.49, increasing his stake by 0.05% to nearly 7 million shares.
- Financial performance: AFC Gamma reported quarterly EPS of $0.23, exceeding estimates of $0.19, although revenue of $6.77 million fell short of the $8.59 million consensus forecast.
- Dividend and sentiment: The company declared a $0.05 quarterly dividend, representing a 5.7% annualized yield, while analysts maintain a consensus “Reduce” rating with one Hold and one Sell recommendation.
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 3,471 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The shares were acquired at an average cost of $3.49 per share, with a total value of $12,113.79. Following the transaction, the director directly owned 6,988,989 shares in the company, valued at $24,391,571.61. The trade was a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
AFC Gamma Price Performance
Shares of NASDAQ:AFCG opened at $3.48 on Friday. The company has a market cap of $78.89 million, a price-to-earnings ratio of 18.32 and a beta of 0.95. The business has a 50 day moving average price of $3.18 and a 200 day moving average price of $3.09. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma Inc. has a twelve month low of $2.06 and a twelve month high of $4.20.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The company had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. Research analysts predict that AFC Gamma Inc. will post 0.72 earnings per share for the current year.
AFC Gamma Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.7%. AFC Gamma's payout ratio is 105.26%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on AFCG. Weiss Ratings upgraded shares of AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, AFC Gamma has a consensus rating of "Reduce".
Check Out Our Latest Research Report on AFCG
About AFC Gamma
(
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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