Sachem Capital (NYSEAMERICAN:SACH) Shares Pass Below Fifty Day Moving Average – Here’s Why

Sachem Capital Corp. (NYSEAMERICAN:SACH) shares passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.86 and traded as low as $0.78. Sachem Capital shares last traded at $0.8268, with a volume of 259,561 shares changing hands.

Sachem Capital Trading Up 6.0%

The company’s 50 day simple moving average is $0.86 and its two-hundred day simple moving average is $0.99. The stock has a market cap of $39.65 million, a price-to-earnings ratio of -3.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.40.

Sachem Capital (NYSEAMERICAN:SACH) last announced its earnings results on Wednesday, August 5th. The company reported ($0.14) earnings per share (EPS) for the quarter. Sachem Capital had a negative return on equity of 4.70% and a negative net margin of 18.74%.The company had revenue of $3.03 million for the quarter, compared to the consensus estimate of $11.19 million.

Sachem Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, June 15th. Sachem Capital’s payout ratio is -21.05%.

Institutional Investors Weigh In On Sachem Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Sachem Capital during the 3rd quarter worth approximately $37,000. Napier Financial LLC acquired a new position in shares of Sachem Capital in the 4th quarter valued at approximately $38,000. GSA Capital Partners LLP acquired a new position in shares of Sachem Capital in the 2nd quarter valued at approximately $39,000. Renaissance Technologies LLC lifted its holdings in shares of Sachem Capital by 91.1% during the 4th quarter. Renaissance Technologies LLC now owns 45,862 shares of the company’s stock worth $48,000 after acquiring an additional 21,862 shares during the period. Finally, Jane Street Group LLC boosted 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 worth $55,000 after acquiring an additional 31,260 shares in the last quarter. 18.07% of the stock is currently owned by institutional investors and hedge funds.

Sachem Capital Company Profile

Sachem Capital Corp (NYSEAMERICAN:SACH) is an externally managed, non-diversified closed-end management investment trust that seeks to provide shareholders with current income and long-term capital appreciation. The trust is managed by Sachem Capital Management, L.P., an affiliate of Sachem Wealth Management, and its shares trade on the NYSE American exchange.

The trust’s investment strategy focuses on a diversified portfolio of senior secured debt obligations, including first and second lien loans, mezzanine loans, high-yield bonds and preferred equity.