AFC Gamma (NASDAQ:AFCG) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of AFC Gamma (NASDAQ:AFCG) from a hold rating to a strong sell rating in a research report report published on Thursday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $5.75.

AFC Gamma Stock Performance

AFC Gamma stock opened at $2.62 on Thursday. The firm’s 50 day simple moving average is $2.47 and its 200-day simple moving average is $3.18. The company has a market cap of $61.65 million, a P/E ratio of -2.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.04. AFC Gamma has a fifty-two week low of $2.06 and a fifty-two week high of $8.55.

AFC Gamma (NASDAQ:AFCG) last released its earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%.The firm had revenue of $8.71 million for the quarter, compared to analyst estimates of $5.36 million. As a group, equities research analysts predict that AFC Gamma will post 1.64 EPS for the current year.

AFC Gamma Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 31st. AFC Gamma’s dividend payout ratio (DPR) is currently -55.79%.

Insiders Place Their Bets

In related news, Director Leonard M. Tannenbaum acquired 25,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were bought at an average cost of $3.05 per share, with a total value of $76,250.00. Following the completion of the acquisition, the director owned 5,861,098 shares of the company’s stock, valued at $17,876,348.90. This trade represents a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased 69,000 shares of company stock worth $204,770 over the last 90 days. 25.10% of the stock is currently owned by insiders.

About AFC Gamma

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.