Hartline Investment Corp Acquires New Holdings in Sachem Capital Corp. (NYSEAMERICAN:SACH)

Hartline Investment Corp acquired a new stake in shares of Sachem Capital Corp. (NYSEAMERICAN:SACH) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 18,965 shares of the company’s stock, valued at approximately $85,000.

Several other institutional investors also recently bought and sold shares of SACH. B. Riley Wealth Advisors Inc. purchased a new position in Sachem Capital during the third quarter valued at approximately $41,000. Raymond James Financial Services Advisors Inc. purchased a new position in Sachem Capital in the fourth quarter worth $53,000. Quadrature Capital Ltd purchased a new position in Sachem Capital in the fourth quarter worth $78,000. Jump Financial LLC grew its holdings in Sachem Capital by 112.2% in the fourth quarter. Jump Financial LLC now owns 75,628 shares of the company’s stock worth $283,000 after purchasing an additional 39,984 shares during the last quarter. Finally, Citigroup Inc. purchased a new position in Sachem Capital in the third quarter worth $706,000. 18.07% of the stock is owned by hedge funds and other institutional investors.

Sachem Capital Stock Performance

Shares of SACH traded up $0.08 during mid-day trading on Friday, hitting $2.55. 434,838 shares of the company were exchanged, compared to its average volume of 339,373. Sachem Capital Corp. has a 1-year low of $2.43 and a 1-year high of $4.64. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.11. The firm’s 50 day simple moving average is $3.68. The stock has a market cap of $120.76 million, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.13 and a beta of 1.72.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SACH shares. Alliance Global Partners started coverage on shares of Sachem Capital in a report on Monday, March 18th. They issued a “buy” rating and a $4.50 price target on the stock. Oppenheimer cut their price target on shares of Sachem Capital from $5.00 to $4.50 and set an “outperform” rating on the stock in a report on Monday, May 20th.

Sachem Capital 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.