WhiteHorse Finance (NASDAQ:WHF) Upgraded at Raymond James Financial

WhiteHorse Finance (NASDAQ:WHF) was upgraded by research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a $9.00 price target on the investment management company’s stock. Raymond James Financial’s target price points to a potential upside of 16.88% from the company’s current price.

Several other research firms have also commented on WHF. JPMorgan Chase & Co. upped their target price on WhiteHorse Finance from $6.00 to $6.50 and gave the company an “underweight” rating in a research note on Wednesday, August 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Friday, August 28th. Finally, B. Riley Financial lifted their price target on WhiteHorse Finance from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, August 14th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $7.83.

WhiteHorse Finance Stock Up 1.2%

Shares of NASDAQ WHF opened at $7.70 on Thursday. WhiteHorse Finance has a 1 year low of $6.07 and a 1 year high of $7.84. The firm’s 50 day moving average price is $7.15 and its 200 day moving average price is $6.99. The firm has a market cap of $165.40 million, a P/E ratio of 7.39 and a beta of 0.39. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.39 and a current ratio of 1.39.

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

Hedge Funds Weigh In On WhiteHorse Finance

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

WhiteHorse Finance Company Profile

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.