JPMorgan Chase & Co. Cuts WhiteHorse Finance (NASDAQ:WHF) Price Target to $6.00

WhiteHorse Finance (NASDAQ:WHF) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $6.50 to $6.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 11.50% from the stock’s current price.

Separately, Weiss Ratings cut WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, WhiteHorse Finance has an average rating of “Reduce” and a consensus price target of $7.50.

WhiteHorse Finance Stock Up 1.2%

Shares of NASDAQ:WHF opened at $6.78 on Thursday. The firm has a fifty day moving average price of $6.97 and a two-hundred day moving average price of $7.00. The company has a market cap of $145.63 million, a price-to-earnings ratio of 16.54 and a beta of 0.37. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.23 and a quick ratio of 2.23. WhiteHorse Finance has a one year low of $6.07 and a one year high of $9.28.

WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings results on Thursday, May 7th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $15.90 million during the quarter, compared to the consensus estimate of $16.35 million. WhiteHorse Finance had a return on equity of 9.47% and a net margin of 13.46%. Analysts anticipate that WhiteHorse Finance will post 1.03 EPS for the current fiscal year.

Insider Buying and Selling at WhiteHorse Finance

In other news, Director John Bolduc acquired 15,380 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was purchased at an average cost of $6.49 per share, for a total transaction of $99,816.20. Following the acquisition, the director owned 317,297 shares of the company’s stock, valued at $2,059,257.53. This trade represents a 5.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stuart D. Aronson acquired 20,000 shares of WhiteHorse Finance stock in a transaction dated Thursday, May 21st. The shares were purchased at an average price of $6.67 per share, for a total transaction of $133,400.00. Following the completion of the transaction, the chief executive officer directly owned 100,000 shares in the company, valued at approximately $667,000. The trade was a 25.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 94,940 shares of company stock valued at $627,568 over the last quarter. 3.80% of the stock is owned by company insiders.

Institutional Trading of WhiteHorse Finance

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lalia Capital LLC bought a new stake in shares of WhiteHorse Finance in the 4th quarter worth approximately $4,628,000. Closed End Fund Advisors Inc. purchased a new position in WhiteHorse Finance in the 4th quarter worth $286,000. Advisory Services Network LLC bought a new stake in WhiteHorse Finance in the third quarter worth $26,000. O Shaughnessy Asset Management LLC purchased a new stake in WhiteHorse Finance during the fourth quarter valued at about $88,000. Finally, Oxford Asset Management LLP purchased a new stake in WhiteHorse Finance during the second quarter valued at about $105,000. Hedge funds and other 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.