Oppenheimer Has Lowered Expectations for Sachem Capital (NYSEAMERICAN:SACH) Stock Price

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 price target dropped by research analysts at Oppenheimer from $2.50 to $2.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price target suggests a potential upside of 61.29% from the company's previous close.

Other equities research analysts have also issued reports about the company. Citigroup restated a "market perform" rating on shares of Sachem Capital in a research report on Wednesday, July 9th. JMP Securities reiterated a "market perform" rating on shares of Sachem Capital in a research report on Wednesday, July 9th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $1.75.

Sachem Capital Stock Performance

NYSEAMERICAN SACH opened at $1.24 on Friday. The stock has a market capitalization of $58.70 million, a price-to-earnings ratio of -1.38, a PEG ratio of 0.62 and a beta of 1.10. Sachem Capital has a twelve month low of $0.80 and a twelve month high of $2.70. 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 stock has a 50-day moving average of $1.21 and a 200 day moving average of $1.12.

Institutional Investors Weigh In On Sachem Capital

A number of hedge funds and other institutional investors have recently modified their holdings of SACH. Jane Street Group LLC lifted its position in shares of 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 acquiring an additional 31,260 shares during the period. Vident Advisory LLC purchased a new stake in Sachem Capital in the 4th quarter worth approximately $119,000. US Financial Advisors LLC grew its stake in Sachem Capital by 4.1% in the 1st quarter. US Financial Advisors LLC now owns 451,570 shares of the company's stock worth $524,000 after acquiring an additional 17,677 shares during the period. Finally, Cox Capital Mgt LLC grew its stake in Sachem Capital by 93.2% in the 2nd quarter. Cox Capital Mgt LLC now owns 1,122,368 shares of the company's stock worth $1,347,000 after acquiring an additional 541,301 shares during the period. 18.07% of the stock is currently owned by institutional investors and hedge funds.

Sachem Capital Company Profile

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.

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