WhiteHorse Finance (NASDAQ:WHF) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of WhiteHorse Finance (NASDAQ:WHF) from a hold rating to a buy rating in a report released on Friday morning.

Separately, JPMorgan Chase & Co. cut their price target on shares of WhiteHorse Finance from $12.50 to $11.50 and set an underweight rating on the stock in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $12.75.

WhiteHorse Finance Stock Up 0.4 %

Shares of NASDAQ:WHF opened at $11.51 on Friday. The company has a 50-day moving average price of $12.35 and a 200 day moving average price of $12.56. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.24. WhiteHorse Finance has a 12 month low of $11.14 and a 12 month high of $13.52. The company has a market cap of $267.49 million, a price-to-earnings ratio of 14.04 and a beta of 1.30.

WhiteHorse Finance (NASDAQ:WHF) last announced its earnings results on Thursday, August 8th. The investment management company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). WhiteHorse Finance had a return on equity of 13.07% and a net margin of 22.73%. The company had revenue of $23.48 million during the quarter, compared to analysts’ expectations of $24.72 million. During the same quarter last year, the firm posted $0.46 EPS. As a group, equities research analysts predict that WhiteHorse Finance will post 1.78 earnings per share for the current year.

WhiteHorse Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 18th will be issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 13.38%. The ex-dividend date is Wednesday, September 18th. WhiteHorse Finance’s payout ratio is 187.81%.

Insider Activity

In other WhiteHorse Finance news, major shareholder Anthony Tamer sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $12.15, for a total transaction of $12,150,000.00. Following the completion of the sale, the insider now owns 3,976,258 shares in the company, valued at $48,311,534.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On WhiteHorse Finance

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sanders Morris Harris LLC boosted its holdings in WhiteHorse Finance by 3.1% in the second quarter. Sanders Morris Harris LLC now owns 32,244 shares of the investment management company’s stock worth $396,000 after acquiring an additional 956 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of WhiteHorse Finance by 1,130.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,460 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 2,260 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of WhiteHorse Finance by 13.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,198 shares of the investment management company’s stock valued at $261,000 after purchasing an additional 2,458 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in WhiteHorse Finance by 19.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,292 shares of the investment management company’s stock worth $227,000 after purchasing an additional 3,013 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in WhiteHorse Finance during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 13.20% of the company’s stock.

About WhiteHorse Finance

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.