WhiteHorse Finance, Inc. (NASDAQ:WHF) Shares Shorted: Short Interest Up 57.0% in September

WhiteHorse Finance, Inc. (NASDAQ:WHF) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totaling 410,682 shares, an increase of 57.0% from the September 15th total of 261,645 shares. Based on an average daily volume of 114,648 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.0% of the company’s stock are short sold.

WhiteHorse Finance Stock Up 3.5%

NASDAQ:WHF opened at $7.66 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market cap of $164.54 million, a P/E ratio of 7.18 and a beta of 0.39. WhiteHorse Finance has a fifty-two week low of $6.07 and a fifty-two week high of $7.84. The firm has a 50-day simple moving average of $7.10 and a two-hundred day simple moving average of $6.99.

WhiteHorse Finance (NASDAQ:WHF) last issued its earnings results on Monday, August 10th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $14.37 million during the quarter, compared to the consensus estimate of $15.66 million. WhiteHorse Finance had a return on equity of 8.94% and a net margin of 26.88%. Analysts predict that WhiteHorse Finance will post 0.97 earnings per share for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, October 30th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 30th. WhiteHorse Finance’s dividend payout ratio is 126.58%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WHF. Weiss Ratings reiterated a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Friday, August 28th. B. Riley Financial increased their target price on WhiteHorse Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. Finally, JPMorgan Chase & Co. raised their price target on WhiteHorse Finance from $6.00 to $6.50 and gave the company an “underweight” rating in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, WhiteHorse Finance has a consensus rating of “Reduce” and a consensus target price of $7.25.

Institutional Trading of WhiteHorse Finance

A number of institutional investors and hedge funds have recently modified their holdings of WHF. NewEdge Wealth LLC bought a new stake in shares of WhiteHorse Finance in the 2nd quarter worth $117,000. Gables Capital Management Inc. purchased a new position in shares of WhiteHorse Finance in the second quarter worth $294,000. BlackRock Inc. bought a new position in shares of WhiteHorse Finance during the second quarter valued at $477,000. Legal & General Group Plc bought a new position in shares of WhiteHorse Finance during the second quarter valued at $1,172,000. Finally, Bank of America Corp DE bought a new position in shares of WhiteHorse Finance during the second quarter valued at $1,240,000. Institutional investors own 13.20% of the company’s stock.

About WhiteHorse Finance

WhiteHorse Finance, Inc (NASDAQ: WHF) is a business development company that provides financing to privately owned, primarily lower-middle-market companies. The company seeks to generate income and, to a lesser extent, capital appreciation through investments in a range of industries.

WhiteHorse Finance primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and selected equity investments. Its financing may support acquisitions, recapitalizations, growth initiatives, refinancing transactions and other general corporate purposes.

The company focuses mainly on U.S.-based middle-market businesses and works with companies that may have limited access to traditional bank financing.