Insider Buying: WhiteHorse Finance (NASDAQ:WHF) CEO Acquires $76,680.00 in Stock

WhiteHorse Finance, Inc. (NASDAQ:WHF) CEO Stuart Aronson bought 12,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $6.39 per share, for a total transaction of $76,680.00. Following the purchase, the chief executive officer owned 112,000 shares of the company’s stock, valued at approximately $715,680. The trade was a 12.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

WhiteHorse Finance Stock Performance

NASDAQ WHF opened at $6.70 on Friday. The firm’s fifty day moving average price is $7.34 and its two-hundred day moving average price is $7.10. The stock has a market cap of $144.79 million, a PE ratio of 16.34 and a beta of 0.41. WhiteHorse Finance, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $9.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.23 and a current ratio of 2.23.

WhiteHorse Finance (NASDAQ:WHF) last posted its earnings results on Thursday, May 7th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The company had revenue of $15.90 million for 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%. On average, equities analysts expect that WhiteHorse Finance, Inc. will post 1.03 EPS for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date of this dividend is Thursday, May 21st. WhiteHorse Finance’s payout ratio is presently 243.90%.

Institutional Trading of WhiteHorse Finance

Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC bought a new stake in shares of WhiteHorse Finance in the third quarter worth $26,000. Kestra Advisory Services LLC bought a new stake in shares of WhiteHorse Finance in the fourth quarter worth $44,000. HUB Investment Partners LLC bought a new stake in shares of WhiteHorse Finance in the third quarter worth $75,000. Norden Group LLC bought a new stake in shares of WhiteHorse Finance in the fourth quarter worth $76,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of WhiteHorse Finance in the fourth quarter worth $88,000. Institutional investors own 13.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of WhiteHorse Finance from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price 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.