Key Points
- Director Leonard Tannenbaum bought 18,500 AFC Gamma shares at an average price of $3.08, spending $56,980 and increasing his direct holdings to 7,128,114 shares.
- AFC Gamma reported quarterly EPS of $0.28, beating the $0.16 consensus estimate, while revenue of $8.57 million also exceeded forecasts.
- The company’s quarterly dividend was $0.05 per share, equivalent to a 5.8% annualized yield; analysts’ consensus rating is “Reduce.”
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) insider Robyn Tannenbaum acquired 10,000 shares of the company's stock in a transaction dated Friday, November 6th. The shares were bought at an average cost of $3.09 per share, with a total value of $30,900.00. Following the completion of the acquisition, the insider directly owned 236,907 shares in the company, valued at $732,042.63. The trade was a 4.41% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
AFC Gamma Stock Up 8.2%
AFCG opened at $3.43 on Tuesday. The stock has a market cap of $77.76 million, a PE ratio of 3.30 and a beta of 1.00. 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 52 week low of $2.06 and a 52 week high of $3.84. The business's fifty day simple moving average is $3.29 and its 200 day simple moving average is $2.98.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.12. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. The business had revenue of $8.57 million for the quarter, compared to the consensus estimate of $8.30 million. As a group, research analysts expect that AFC Gamma Inc. will post 0.71 earnings per share for the current fiscal year.
AFC Gamma Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. AFC Gamma's dividend payout ratio is 19.23%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on AFCG shares. 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 research note on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce".
Read Our Latest Stock Report on AFC Gamma
AFC Gamma Company Profile
(
Get Free Report)
AFC Gamma, Inc is a specialty finance company focused primarily on providing institutional debt financing to businesses operating in the regulated cannabis industry. The company has historically targeted established cannabis operators and other participants in the industry that may have limited access to traditional bank financing.
Its financing activities have included senior secured loans, mortgage-backed loans and other structured debt arrangements. Borrowers may use these funds to support the acquisition, development or expansion of cannabis cultivation, processing, manufacturing and retail facilities, as well as related working-capital and corporate needs.
AFC Gamma was founded in 2019 and became a publicly traded company in 2021.
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