Insider Buying: WhiteHorse Finance (NASDAQ:WHF) Director Buys 14,200 Shares of Stock

WhiteHorse Finance, Inc. (NASDAQ:WHF) Director John Bolduc bought 14,200 shares of WhiteHorse Finance stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average cost of $6.88 per share, for a total transaction of $97,696.00. Following the purchase, the director owned 251,985 shares of the company’s stock, valued at $1,733,656.80. The trade was a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

John Bolduc also recently made the following trade(s):

• On Thursday, November 13th, John Bolduc purchased 14,100 shares of WhiteHorse Finance stock. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $97,290.00.

WhiteHorse Finance Trading Up 4.3%

NASDAQ:WHF traded up $0.29 during trading hours on Friday, reaching $7.04. The company’s stock had a trading volume of 142,990 shares, compared to its average volume of 102,248. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $163.63 million, a price-to-earnings ratio of 46.94 and a beta of 0.79. The firm has a 50-day simple moving average of $7.36 and a 200-day simple moving average of $8.38. WhiteHorse Finance, Inc. has a 1 year low of $6.39 and a 1 year high of $11.31.

WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings data on Monday, November 10th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The company had revenue of $17.69 million for the quarter, compared to analysts’ expectations of $18.43 million. WhiteHorse Finance had a net margin of 4.36% and a return on equity of 10.72%. Research analysts expect that WhiteHorse Finance, Inc. will post 1.66 EPS for the current fiscal year.

WhiteHorse Finance Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date is Monday, December 22nd. WhiteHorse Finance’s dividend payout ratio (DPR) is presently 232.56%.

Institutional Trading of WhiteHorse Finance

Several institutional investors and hedge funds have recently modified their holdings of the company. HUB Investment Partners LLC purchased a new stake in WhiteHorse Finance in the 3rd quarter worth $75,000. Northstar Advisory Group LLC purchased a new stake in shares of WhiteHorse Finance during the second quarter worth about $87,000. Oxford Asset Management LLP purchased a new stake in shares of WhiteHorse Finance during the second quarter worth about $105,000. Marshall Wace LLP purchased a new position in WhiteHorse Finance in the 2nd quarter worth approximately $368,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in WhiteHorse Finance by 13.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,487 shares of the investment management company’s stock worth $468,000 after purchasing an additional 5,715 shares during the period. 13.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target 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. B. Riley lowered their price objective on WhiteHorse Finance from $9.50 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 13th. Zacks Research raised WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. LADENBURG THALM/SH SH upgraded WhiteHorse Finance to a “hold” rating in a report on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, WhiteHorse Finance currently has an average rating of “Reduce” and a consensus target price of $7.75.

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.