Darden Wealth Group Inc Sells 69,000 Shares of Sachem Capital Corp. (NYSEAMERICAN:SACH)

Darden Wealth Group Inc reduced its position in Sachem Capital Corp. (NYSEAMERICAN:SACH) by 37.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,000 shares of the company’s stock after selling 69,000 shares during the quarter. Darden Wealth Group Inc owned 0.24% of Sachem Capital worth $285,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SACH. JB Capital LLC raised its holdings in Sachem Capital by 32.7% in the 3rd quarter. JB Capital LLC now owns 20,301 shares of the company’s stock worth $51,000 after purchasing an additional 5,006 shares in the last quarter. US Financial Advisors LLC boosted its position in Sachem Capital by 3.0% during the 3rd quarter. US Financial Advisors LLC now owns 423,578 shares of the company’s stock valued at $1,067,000 after acquiring an additional 12,428 shares in the last quarter. Teamwork Financial Advisors LLC grew its holdings in shares of Sachem Capital by 78.4% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 74,551 shares of the company’s stock worth $188,000 after acquiring an additional 32,757 shares during the period. Marshall Wace LLP purchased a new position in shares of Sachem Capital in the 2nd quarter valued at approximately $334,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Sachem Capital during the second quarter valued at approximately $831,000. 18.07% of the stock is owned by hedge funds and other institutional investors.

Sachem Capital Trading Down 4.2 %

SACH opened at $1.59 on Friday. The business has a 50 day simple moving average of $3.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $74.68 million, a P/E ratio of -8.37, a price-to-earnings-growth ratio of 0.21 and a beta of 1.73. Sachem Capital Corp. has a 12-month low of $1.44 and a 12-month high of $4.64.

Sachem Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 12.58%. The ex-dividend date of this dividend is Monday, November 18th. Sachem Capital’s payout ratio is -105.26%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SACH shares. Oppenheimer cut their price target on Sachem Capital from $4.50 to $4.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Alliance Global Partners cut shares of Sachem Capital from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research note on Friday, November 15th.

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.