WhiteHorse Finance Inc. (WHF) Lifted to “Hold” at Zacks Investment Research
WhiteHorse Finance Inc. (NASDAQ:WHF) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
A number of other research firms also recently issued reports on WHF. Robert W. Baird downgraded shares of WhiteHorse Finance from an “outperform” rating to a “neutral” rating and set a $12.00 price target for the company. in a research report on Tuesday, August 9th. TheStreet raised shares of WhiteHorse Finance from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Citigroup Inc. raised their price objective on shares of WhiteHorse Finance from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Finally, Deutsche Bank AG set a $13.50 price objective on shares of WhiteHorse Finance and gave the stock a “buy” rating in a research note on Thursday, August 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.40.
Shares of WhiteHorse Finance (NASDAQ:WHF) traded up 0.67% during trading on Wednesday, hitting $10.57. The company had a trading volume of 9,060 shares. The stock’s 50-day moving average is $11.28 and its 200 day moving average is $10.88. WhiteHorse Finance has a 52-week low of $9.14 and a 52-week high of $13.68.
WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Friday, August 5th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. WhiteHorse Finance had a net margin of 0.62% and a return on equity of 8.50%. On average, equities research analysts anticipate that WhiteHorse Finance will post $1.41 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a $0.355 dividend. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.42 annualized dividend and a yield of 13.52%. WhiteHorse Finance’s payout ratio is currently -1,014.21%.
Hedge funds have recently added to or reduced their stakes in the company. Nuveen Fund Advisors LLC purchased a new stake in WhiteHorse Finance during the second quarter valued at approximately $393,000. Baird Financial Group Inc. boosted 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 valued at $276,000 after buying an additional 1,203 shares during the last quarter. Orinda Asset Management LLC purchased a new stake in WhiteHorse Finance during the second quarter valued at approximately $655,000. Finally, Nantahala Capital Management LLC boosted 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 valued at $2,446,000 after buying an additional 37,347 shares during the last quarter. 10.64% of the stock is owned by hedge funds and other institutional investors.
WhiteHorse Finance Company Profile
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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