AFC Gamma, Inc. (NASDAQ:AFCG – Get Rating) Director Robyn Tannenbaum acquired 1,000 shares of the company in a transaction that took place on Thursday, May 12. The shares were acquired at an average cost of $16.88 per share, for a total transaction of $16,880.00. Following the purchase, the director now directly owns 3,000 shares of the company, valued at $50,640. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
NASDAQ AFCG shares opened at $17.21 on Friday. The company’s 50-day moving average price is $18.18 and its 200-day moving average price is $20.24. The company has a market capitalization of $339.73 million, a PE ratio of 9.68 and a beta of 1.28. AFC Gamma, Inc. has a 52 week minimum of $14.90 and a 52 week maximum of $25.50. The company has a debt ratio of 0.27, a quick ratio of 4.30 and a current ratio of 4.30.
AFC Gamma (NASDAQ:AFCG – Get Rating) last released its results on Tuesday, May 10. The company reported earnings per share (EPS) of $0.62 for the quarter, beating the consensus estimate of $0.61 by $0.01. AFC Gamma posted a net margin of 57.13% and a return on equity of 12.28%. During the same period of the previous year, the company achieved EPS of $0.45. On average, analysts expect AFC Gamma, Inc. to post earnings per share of 2.73 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15. Investors of record on Thursday, March 31 received a dividend of $0.55 per share. This is an increase from AFC Gamma’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, March 30. This represents a dividend of $2.20 on an annualized basis and a yield of 12.78%. The AFC Gamma payout rate is 125.00%.
Separately, Zacks Investment Research downgraded AFC Gamma shares from a “hold” rating to a “sell” rating in a research note on Thursday. One equity research analyst has assigned the stock a sell rating, one has assigned a hold rating and four have assigned the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $26.50.
Institutional investors have recently changed their stock portfolios. Royal Bank of Canada increased its position in AFC Gamma by 170.4% during the third quarter. Royal Bank of Canada now owns 1,344 shares of the company valued at $29,000 after purchasing an additional 847 shares during the period. Tcwp LLC bought a new position in AFC Gamma during the first quarter worth approximately $32,000. Morgan Stanley bought a new position in AFC Gamma during the first quarter worth about $48,000. Strs Ohio increased its position in AFC Gamma by 70.6% during the fourth quarter. Strs Ohio now owns 2,900 shares of the company valued at $66,000 after purchasing an additional 1,200 shares during the period. Finally, Bank of America Corp DE bought a new position in AFC Gamma during the second quarter worth approximately $85,000. Institutional investors hold 37.72% of the company’s shares.
About AFC Gamma (Get an evaluation)
AFC Gamma, Inc originates, structures, guarantees and invests in senior secured loans and other types of loans and debt instruments for established companies operating in the cannabis industry in states that have legalized the use medical and/or adult cannabis. It primarily issues loans structured as senior loans secured by real estate, equipment and licenses and/or other assets of the lending parties to the extent permitted by applicable laws and regulations governing such lending parties.
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