Leonard M. Tannenbaum Acquires 21,183 Shares of AFC Gamma, Inc. (NASDAQ:AFCG) Stock

AFC Gamma, Inc. (NASDAQ:AFCGGet Rating) CEO Leonard M. Tannenbaum acquired 21,183 shares of the stock in a transaction on Wednesday, May 11th. The shares were acquired at an average price of $15.80 per share, with a total value of $334,691.40. Following the transaction, the chief executive officer now directly owns 3,363,683 shares of the company’s stock, valued at $53,146,191.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

AFC Gamma stock opened at $17.21 on Friday. The firm has a 50-day moving average price of $18.18 and a 200-day moving average price of $20.24. The firm has a market capitalization of $339.73 million, a PE ratio of 9.68 and a beta of 1.28. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 0.27. AFC Gamma, Inc. has a 12-month low of $14.90 and a 12-month high of $25.50.

AFC Gamma (NASDAQ:AFCGGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. AFC Gamma had a net margin of 57.13% and a return on equity of 12.28%. During the same period last year, the firm posted $0.45 earnings per share. As a group, sell-side analysts predict that AFC Gamma, Inc. will post 2.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 12.78%. The ex-dividend date of this dividend was Wednesday, March 30th. This is a positive change from AFC Gamma’s previous quarterly dividend of $0.50. AFC Gamma’s dividend payout ratio (DPR) is 125.00%.

Separately, Zacks Investment Research lowered shares of AFC Gamma from a “hold” rating to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $26.50.

Several institutional investors have recently added to or reduced their stakes in AFCG. Morgan Stanley purchased a new position in AFC Gamma in the 1st quarter worth about $48,000. Bank of America Corp DE purchased a new position in AFC Gamma in the 2nd quarter worth about $85,000. Citadel Advisors LLC purchased a new position in AFC Gamma in the 2nd quarter worth about $569,000. SG Americas Securities LLC purchased a new position in AFC Gamma in the 3rd quarter worth about $124,000. Finally, Deutsche Bank AG increased its stake in AFC Gamma by 18.7% in the 3rd quarter. Deutsche Bank AG now owns 5,111 shares of the company’s stock worth $110,000 after buying an additional 804 shares during the period. Hedge funds and other institutional investors own 37.72% of the company’s stock.

About AFC Gamma (Get Rating)

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.

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