WhiteHorse Finance, Inc. (NASDAQ:WHF) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of WhiteHorse Finance, Inc. (NASDAQ:WHF) from a strong-buy rating to a hold rating in a report released on Tuesday, July 4th.
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. “
Several other equities analysts also recently weighed in on the company. Robert W. Baird raised WhiteHorse Finance from a neutral rating to an outperform rating and set a $15.00 target price on the stock in a research report on Thursday, June 29th. ValuEngine raised WhiteHorse Finance from a buy rating to a strong-buy rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $14.13.
WhiteHorse Finance (NASDAQ WHF) traded down 0.15% during mid-day trading on Tuesday, hitting $13.15. The stock had a trading volume of 57,574 shares. The stock’s 50-day moving average price is $13.61 and its 200-day moving average price is $13.60. WhiteHorse Finance has a 12 month low of $10.30 and a 12 month high of $14.75.
WhiteHorse Finance (NASDAQ:WHF) last released its earnings results on Friday, May 5th. The investment management company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $13.58 million for the quarter, compared to the consensus estimate of $12.10 million. WhiteHorse Finance had a return on equity of 10.78% and a net margin of 65.58%. On average, equities analysts forecast that WhiteHorse Finance will post $1.45 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Monday, June 19th were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 10.80%. The ex-dividend date was Thursday, June 15th. WhiteHorse Finance’s payout ratio is currently 73.58%.
A number of institutional investors have recently bought and sold shares of WHF. Janney Montgomery Scott LLC acquired a new position in WhiteHorse Finance during the first quarter worth about $273,000. Hillsdale Investment Management Inc. acquired a new position in WhiteHorse Finance during the first quarter worth about $476,000. UBS Group AG boosted its position in WhiteHorse Finance by 2.3% in the first quarter. UBS Group AG now owns 291,583 shares of the investment management company’s stock worth $4,024,000 after buying an additional 6,584 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in WhiteHorse Finance during the first quarter worth about $205,000. Finally, BB&T Securities LLC acquired a new position in WhiteHorse Finance during the second quarter worth about $152,000. Institutional investors own 11.55% 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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