WhiteHorse Finance (NASDAQ:WHF) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of WhiteHorse Finance (NASDAQ:WHF) from a hold rating to a sell rating in a research report report published on Tuesday morning, BidAskClub reports.

Several other analysts have also recently commented on the company. Zacks Investment Research cut WhiteHorse Finance from a buy rating to a hold rating in a report on Saturday, July 20th. Raymond James initiated coverage on WhiteHorse Finance in a report on Tuesday, June 18th. They set an outperform rating and a $16.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. WhiteHorse Finance has a consensus rating of Hold and a consensus target price of $14.63.

NASDAQ:WHF traded down $0.06 during midday trading on Tuesday, reaching $13.84. The stock had a trading volume of 7,616 shares, compared to its average volume of 55,137. The business’s fifty day simple moving average is $13.97. WhiteHorse Finance has a 12-month low of $11.89 and a 12-month high of $15.00. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.56. The stock has a market cap of $284.41 million, a PE ratio of 9.23 and a beta of 0.61.

WhiteHorse Finance (NASDAQ:WHF) last issued its earnings results on Wednesday, May 8th. The investment management company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $15.92 million for the quarter, compared to analyst estimates of $15.46 million. WhiteHorse Finance had a net margin of 80.64% and a return on equity of 9.50%. As a group, sell-side analysts expect that WhiteHorse Finance will post 1.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Thursday, June 20th were paid a $0.355 dividend. The ex-dividend date was Wednesday, June 19th. This represents a $1.42 annualized dividend and a dividend yield of 10.26%. WhiteHorse Finance’s payout ratio is 94.67%.

In related news, major shareholder Anthony Tamer sold 229,328 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $14.00, for a total value of $3,210,592.00. Following the completion of the sale, the insider now directly owns 6,026 shares of the company’s stock, valued at approximately $84,364. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Francis Burke purchased 3,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were purchased at an average cost of $14.00 per share, with a total value of $42,000.00. Following the completion of the purchase, the director now directly owns 7,530 shares in the company, valued at $105,420. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in WhiteHorse Finance in the 1st quarter valued at approximately $1,241,000. Citigroup Inc. raised its position in shares of WhiteHorse Finance by 164.4% during the fourth quarter. Citigroup Inc. now owns 4,760 shares of the investment management company’s stock worth $61,000 after acquiring an additional 2,960 shares during the last quarter. Legal & General Group Plc raised its position in shares of WhiteHorse Finance by 12.0% during the fourth quarter. Legal & General Group Plc now owns 89,166 shares of the investment management company’s stock worth $1,139,000 after acquiring an additional 9,546 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of WhiteHorse Finance by 97.4% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 62,045 shares of the investment management company’s stock worth $881,000 after acquiring an additional 30,609 shares during the last quarter. Finally, Advisor Group Inc. grew its stake in shares of WhiteHorse Finance by 588.5% during the fourth quarter. Advisor Group Inc. now owns 13,164 shares of the investment management company’s stock worth $167,000 after purchasing an additional 11,252 shares during the period. 11.42% of the stock is currently owned by institutional investors and hedge funds.

About WhiteHorse Finance

WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States. Its investment objective is to generate returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing lower middle market companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate.

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