WhiteHorse Finance Inc. (WHF) Downgraded by Zacks Investment Research to Sell
According to Zacks, “WhiteHorse Finance, Inc. is a business development company focused on originating loans to privately held small-cap companies across a broad range of industries. WhiteHorse Finance, Inc. is based in Miami, United States. “
WHF has been the topic of a number of other research reports. Robert W. Baird lowered WhiteHorse Finance from an outperform rating to a neutral rating and set a $12.00 price target on the stock. in a report on Tuesday, August 9th. Deutsche Bank AG set a $13.50 price target on WhiteHorse Finance and gave the stock a buy rating in a report on Thursday, August 11th. Citigroup Inc. raised their price target on WhiteHorse Finance from $11.00 to $12.00 and gave the stock a buy rating in a report on Wednesday, September 14th. Finally, TheStreet raised WhiteHorse Finance from a hold rating to a buy rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $12.40.
WhiteHorse Finance (NASDAQ:WHF) traded down 0.7310% during midday trading on Friday, hitting $10.8501. The stock had a trading volume of 10,122 shares. The stock has a 50-day moving average price of $11.43 and a 200 day moving average price of $10.85. WhiteHorse Finance has a 12-month low of $9.14 and a 12-month high of $13.68.
WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings results on Friday, August 5th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. WhiteHorse Finance had a return on equity of 8.50% and a net margin of 0.62%. On average, equities research analysts anticipate that WhiteHorse Finance will post $1.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be given a dividend of $0.355 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 12.99%. WhiteHorse Finance’s payout ratio is -1,014.21%.
Several large investors have recently bought and sold shares of WHF. Orinda Asset Management LLC bought a new stake in WhiteHorse Finance during the second quarter worth about $655,000. Nantahala Capital Management LLC increased its stake in WhiteHorse Finance by 18.8% in the first quarter. Nantahala Capital Management LLC now owns 235,669 shares of the investment management company’s stock worth $2,446,000 after buying an additional 37,347 shares during the last quarter. Nuveen Fund Advisors LLC bought a new stake in WhiteHorse Finance during the second quarter worth about $393,000. Finally, Baird Financial Group Inc. increased its stake in WhiteHorse Finance by 4.9% in the second quarter. Baird Financial Group Inc. now owns 25,554 shares of the investment management company’s stock worth $276,000 after buying an additional 1,203 shares during the last quarter. Institutional investors own 10.64% of the company’s stock.
About WhiteHorse Finance
WhiteHorse Finance, Inc is a non-diversified, closed-end management investment company. The Company is a direct lender targeting debt investments in privately held, small-cap companies located in the United States. The Company’s investment objective is to generate attractive risk-adjusted returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing small-cap companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate (LIBOR) and have a term of 3 to 6 years.
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