WhiteHorse Finance (NASDAQ:WHF) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of WhiteHorse Finance (NASDAQ:WHF) from a hold rating to a buy rating in a research report report published on Friday morning.

Separately, JPMorgan Chase & Co. decreased their target price on WhiteHorse Finance from $12.50 to $11.50 and set an underweight rating for the company in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $12.75.

WhiteHorse Finance Stock Performance

Shares of NASDAQ WHF traded up $0.20 during trading hours on Friday, reaching $11.46. The stock had a trading volume of 86,954 shares, compared to its average volume of 84,765. The firm has a market cap of $266.33 million, a price-to-earnings ratio of 13.98 and a beta of 1.30. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.24. WhiteHorse Finance has a fifty-two week low of $11.14 and a fifty-two week high of $13.52. The firm has a 50-day moving average of $12.35 and a 200-day moving average of $12.56.

WhiteHorse Finance (NASDAQ:WHF) last announced its earnings results on Wednesday, May 8th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $25.48 million during the quarter, compared to analysts’ expectations of $24.90 million. WhiteHorse Finance had a return on equity of 13.40% and a net margin of 18.40%. Equities research analysts predict that WhiteHorse Finance will post 1.81 earnings per share for the current year.

WhiteHorse Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 13.44%. The ex-dividend date of this dividend is Wednesday, September 18th. WhiteHorse Finance’s dividend payout ratio is presently 187.81%.

Insider Buying and Selling at WhiteHorse Finance

In other news, major shareholder Anthony Tamer sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $12.15, for a total transaction of $12,150,000.00. Following the completion of the transaction, the insider now directly owns 3,976,258 shares of the company’s stock, valued at approximately $48,311,534.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On WhiteHorse Finance

A number of large investors have recently modified their holdings of WHF. Sound Income Strategies LLC grew its holdings in shares of WhiteHorse Finance by 5.3% in the 2nd quarter. Sound Income Strategies LLC now owns 855,223 shares of the investment management company’s stock worth $10,494,000 after acquiring an additional 42,828 shares during the period. Atria Wealth Solutions Inc. grew its holdings in shares of WhiteHorse Finance by 16.0% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 64,275 shares of the investment management company’s stock worth $813,000 after acquiring an additional 8,866 shares during the period. Quadrature Capital Ltd grew its holdings in shares of WhiteHorse Finance by 121.4% in the 4th quarter. Quadrature Capital Ltd now owns 62,643 shares of the investment management company’s stock worth $772,000 after acquiring an additional 34,353 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of WhiteHorse Finance by 50.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 61,800 shares of the investment management company’s stock worth $760,000 after acquiring an additional 20,800 shares during the period. Finally, Sanders Morris Harris LLC grew its holdings in shares of WhiteHorse Finance by 3.1% in the 2nd quarter. Sanders Morris Harris LLC now owns 32,244 shares of the investment management company’s stock worth $396,000 after acquiring an additional 956 shares during the period. 13.20% of the stock is owned by hedge funds and other institutional investors.

About WhiteHorse Finance

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.