Oppenheimer Lowers Sachem Capital (NYSEAMERICAN:SACH) Price Target to $2.00

Key Points

• Oppenheimer has reduced its price target for Sachem Capital's stock from $2.50 to $2.00, while maintaining an "outperform" rating, indicating a potential upside of 61.29% from the previous close.
• Other analysts have reported a majority "Hold" rating for Sachem Capital, with a consensus average price target of $1.75.
• Institutional investors have increased their stakes in Sachem Capital significantly, with Jane Street Group LLC raising its position by 193.8% in the first quarter.

Sachem Capital (NYSEAMERICAN:SACH - Get Free Report) had its target price cut by investment analysts at Oppenheimer from $2.50 to $2.00 in a research note issued on Friday, MarketBeat.com reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's target price would indicate a potential upside of 71.67% from the stock's previous close.

SACH has been the topic of several other research reports. Citigroup restated a "market perform" rating on shares of Sachem Capital in a report on Wednesday, July 9th. JMP Securities restated a "market perform" rating on shares of Sachem Capital in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $1.75.

Sachem Capital Price Performance

Shares of SACH traded up $0.05 during midday trading on Friday, reaching $1.17. The stock had a trading volume of 59,018 shares, compared to its average volume of 295,534. The company's 50-day moving average is $1.20 and its 200 day moving average is $1.12. Sachem Capital has a 12-month low of $0.80 and a 12-month high of $2.66. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $55.15 million, a price-to-earnings ratio of -1.29, a price-to-earnings-growth ratio of 0.56 and a beta of 1.10.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SACH. US Financial Advisors LLC increased its position in shares of Sachem Capital by 4.1% during the first quarter. US Financial Advisors LLC now owns 451,570 shares of the company's stock valued at $524,000 after acquiring an additional 17,677 shares in the last quarter. Vident Advisory LLC purchased a new stake in Sachem Capital during the 4th quarter valued at $119,000. Jane Street Group LLC boosted its stake in Sachem Capital by 193.8% during the 1st quarter. Jane Street Group LLC now owns 47,393 shares of the company's stock valued at $55,000 after purchasing an additional 31,260 shares during the last quarter. Finally, Cox Capital Mgt LLC boosted its stake in Sachem Capital by 93.2% during the 2nd quarter. Cox Capital Mgt LLC now owns 1,122,368 shares of the company's stock valued at $1,347,000 after purchasing an additional 541,301 shares during the last quarter. 18.07% of the stock is owned by hedge funds and other institutional investors.

About Sachem Capital

Sachem Capital Corp. operates as a real estate finance company in the United States. The company engages in the originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property. It offers short term loans to real estate investors or developers to fund its acquisition, renovation, rehabilitation, development, and/or improvement of residential or commercial properties.