WhiteHorse Finance (NASDAQ:WHF) Price Target Raised to $6.50

WhiteHorse Finance (NASDAQ:WHF) had its price target raised by JPMorgan Chase & Co. from $6.00 to $6.50 in a research report report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the investment management company’s stock.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. B. Riley Financial increased their price objective on WhiteHorse Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $7.25.

WhiteHorse Finance Stock Up 2.0%

WHF stock opened at $7.16 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $153.80 million, a P/E ratio of 9.06 and a beta of 0.38. WhiteHorse Finance has a 52-week low of $6.07 and a 52-week high of $8.97. The company’s 50 day simple moving average is $6.62 and its 200-day simple moving average is $6.91.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings data on Monday, August 10th. The investment management company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $15.29 million for the quarter, compared to analysts’ expectations of $15.66 million. WhiteHorse Finance had a return on equity of 8.94% and a net margin of 26.88%. As a group, equities research analysts anticipate that WhiteHorse Finance will post 0.97 EPS for the current year.

WhiteHorse Finance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 14.0%. The ex-dividend date is Monday, September 21st. WhiteHorse Finance’s payout ratio is currently 126.58%.

Insider Activity at WhiteHorse Finance

In other news, Director John Bolduc purchased 15,380 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average price of $6.49 per share, with a total value of $99,816.20. Following the purchase, the director owned 317,297 shares in the company, valued at $2,059,257.53. This represents a 5.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stuart D. Aronson acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $6.41 per share, for a total transaction of $96,150.00. Following the acquisition, the chief executive officer directly owned 127,000 shares of the company’s stock, valued at $814,070. The trade was a 13.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 59,940 shares of company stock valued at $397,628. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Services Network LLC acquired a new stake in shares of WhiteHorse Finance in the 3rd quarter valued at $26,000. Kestra Advisory Services LLC acquired a new position in WhiteHorse Finance during the fourth quarter worth $44,000. O Shaughnessy Asset Management LLC bought a new position in WhiteHorse Finance during the fourth quarter valued at about $88,000. Oxford Asset Management LLP bought a new position in WhiteHorse Finance during the second quarter valued at about $105,000. Finally, Trexquant Investment LP acquired a new stake in shares of WhiteHorse Finance in the fourth quarter worth about $108,000. Institutional investors own 13.20% of the company’s stock.

About WhiteHorse Finance

WhiteHorse Finance Corporation (NASDAQ: WHF) is a closed-end management investment company organized as a business development company under the Investment Company Act of 1940. The firm’s primary objective is to generate current income and, to a lesser extent, capital appreciation by making debt and equity investments in privately held middle-market companies. WhiteHorse Finance seeks to partner with established businesses across a range of industries, providing flexible financing solutions designed to support growth initiatives, acquisitions and recapitalizations.

The company’s investment portfolio predominantly comprises senior secured loans, second-lien debt, subordinated debt and select equity interests.