AFC Gamma (NASDAQ:AFCG) Posts Quarterly Earnings Results

AFC Gamma (NASDAQ:AFCG - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.11), Zacks reports. AFC Gamma had a net margin of 13.69% and a return on equity of 12.93%. The firm had revenue of $7.64 million during the quarter, compared to analyst estimates of $11.76 million.

AFC Gamma Stock Down 4.8 %

Shares of NASDAQ:AFCG traded down $0.32 during mid-day trading on Monday, hitting $6.30. 580,267 shares of the company traded hands, compared to its average volume of 167,861. The stock has a 50-day moving average price of $8.34 and a two-hundred day moving average price of $9.27. The stock has a market cap of $138.30 million, a P/E ratio of 15.75 and a beta of 1.03. AFC Gamma has a 12-month low of $6.10 and a 12-month high of $13.28. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29.

Insider Buying and Selling

In other AFC Gamma news, CEO Daniel Neville purchased 16,250 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average cost of $6.32 per share, for a total transaction of $102,700.00. Following the completion of the acquisition, the chief executive officer now owns 177,261 shares of the company's stock, valued at $1,120,289.52. The trade was a 10.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leonard M. Tannenbaum purchased 32,007 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $6.52 per share, for a total transaction of $208,685.64. Following the completion of the acquisition, the director now directly owns 3,909,876 shares of the company's stock, valued at $25,492,391.52. This trade represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 136,606 shares of company stock worth $868,941. 26.20% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AFCG. Jefferies Financial Group cut AFC Gamma from a "buy" rating to a "hold" rating and cut their target price for the company from $10.00 to $7.00 in a research report on Friday. JMP Securities reaffirmed a "market perform" rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Finally, Alliance Global Partners began coverage on AFC Gamma in a research report on Tuesday, December 17th. They set a "buy" rating and a $13.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.67.

AFC Gamma Company Profile

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. 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.