Key Points
- Director Leonard Tannenbaum bought 5,228 AFC Gamma shares at an average price of $3.52, investing $18,402.56 and increasing his position by 0.07% to 7.01 million shares.
- AFC Gamma beat quarterly EPS expectations, reporting $0.23 versus the $0.19 consensus, but revenue of $6.77 million fell short of the $8.59 million estimate.
- The company declared a quarterly dividend of $0.05, equivalent to a 5.6% annualized yield, while analyst sentiment remained cautious with a consensus “Reduce” rating.
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum bought 5,228 shares of AFC Gamma stock in a transaction on Friday, September 25th. The stock was acquired at an average cost of $3.52 per share, with a total value of $18,402.56. Following the acquisition, the director owned 7,014,217 shares of the company's stock, valued at $24,690,043.84. This trade represents a 0.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
AFC Gamma Stock Performance
NASDAQ:AFCG opened at $3.59 on Tuesday. 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 fifty-two week low of $2.06 and a fifty-two week high of $4.20. The stock has a market cap of $81.39 million, a PE ratio of 18.89 and a beta of 0.95. The firm's fifty day simple moving average is $3.21 and its 200-day simple moving average is $3.10.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $8.59 million. Analysts expect that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.
AFC Gamma Dividend Announcement
The business also recently announced 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. 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 5.6%. AFC Gamma's dividend payout ratio (DPR) is 105.26%.
Analyst Ratings Changes
Several brokerages have recently commented on AFCG. Wall Street Zen lowered AFC Gamma from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce".
View Our Latest 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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