Joyson Thomas Purchases 4,502 Shares of WhiteHorse Finance (NASDAQ:WHF) Stock

WhiteHorse Finance, Inc. (NASDAQ:WHF) CFO Joyson Thomas bought 4,502 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were purchased at an average price of $7.01 per share, for a total transaction of $31,559.02. Following the completion of the purchase, the chief financial officer directly owned 22,001 shares of the company’s stock, valued at approximately $154,227.01. This trade represents a 25.73% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

WhiteHorse Finance Stock Down 1.3%

WhiteHorse Finance stock traded down $0.09 during trading on Monday, reaching $6.89. The stock had a trading volume of 233,226 shares, compared to its average volume of 236,322. WhiteHorse Finance, Inc. has a 52-week low of $6.39 and a 52-week high of $11.31. The business has a 50 day moving average price of $7.20 and a 200 day moving average price of $7.95. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.22. The stock has a market cap of $160.12 million, a PE ratio of 16.02 and a beta of 0.56.

WhiteHorse Finance (NASDAQ:WHF) last announced its quarterly earnings data on Monday, November 10th. The investment management company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). WhiteHorse Finance had a net margin of 12.91% and a return on equity of 9.93%. The firm had revenue of $17.69 million during the quarter, compared to analysts’ expectations of $18.43 million. On average, analysts predict that WhiteHorse Finance, Inc. will post 1.66 EPS for the current year.

WhiteHorse Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 22nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.5%. WhiteHorse Finance’s dividend payout ratio is presently 232.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northstar Advisory Group LLC purchased a new stake in shares of WhiteHorse Finance in the second quarter valued at about $87,000. Ethos Financial Group LLC grew its holdings in shares of WhiteHorse Finance by 2.8% during the second quarter. Ethos Financial Group LLC now owns 205,673 shares of the investment management company’s stock worth $1,793,000 after buying an additional 5,616 shares during the last quarter. Legal & General Group Plc increased its position in WhiteHorse Finance by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock valued at $1,368,000 after acquiring an additional 6,560 shares during the period. Marshall Wace LLP acquired a new position in WhiteHorse Finance in the 2nd quarter valued at about $368,000. Finally, Bank of America Corp DE raised its stake in WhiteHorse Finance by 92.0% during the 2nd quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company’s stock valued at $1,613,000 after acquiring an additional 88,659 shares during the last quarter. 13.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WHF. Zacks Research raised shares of WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. cut their target price on WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of WhiteHorse Finance in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $7.75.

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.