WhiteHorse Finance, Inc. (NASDAQ:WHF) Sees Significant Drop in Short Interest

WhiteHorse Finance, Inc. (NASDAQ:WHF) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 406,377 shares, a decrease of 16.7% from the March 15th total of 487,728 shares. Based on an average daily trading volume, of 102,368 shares, the days-to-cover ratio is presently 4.0 days. Currently, 1.9% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WhiteHorse Finance in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $7.75.

Insider Activity at WhiteHorse Finance

In other news, CEO Stuart D. Aronson acquired 8,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $6.95 per share, for a total transaction of $55,600.00. Following the completion of the purchase, the chief executive officer directly owned 80,000 shares of the company’s stock, valued at $556,000. This represents a 11.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Bolduc acquired 8,390 shares of the business’s stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $7.12 per share, for a total transaction of $59,736.80. Following the purchase, the director directly owned 284,617 shares of the company’s stock, valued at $2,026,473.04. This represents a 3.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 47,448 shares of company stock worth $337,673 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WhiteHorse Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new position in WhiteHorse Finance in the 3rd quarter worth approximately $26,000. Kestra Advisory Services LLC bought a new position in WhiteHorse Finance in the 4th quarter worth approximately $44,000. HUB Investment Partners LLC bought a new position in WhiteHorse Finance in the 3rd quarter worth approximately $75,000. Norden Group LLC bought a new position in WhiteHorse Finance in the 4th quarter worth approximately $76,000. Finally, Oxford Asset Management LLP bought a new position in WhiteHorse Finance in the 2nd quarter worth approximately $105,000. 13.20% of the stock is owned by institutional investors.

WhiteHorse Finance Stock Down 0.8%

NASDAQ:WHF opened at $7.59 on Friday. The firm has a market capitalization of $168.73 million, a PE ratio of 12.24 and a beta of 0.41. The stock has a 50 day moving average of $7.04 and a 200-day moving average of $7.04. WhiteHorse Finance has a 52 week low of $6.07 and a 52 week high of $9.95. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.25.

WhiteHorse Finance (NASDAQ:WHF) last posted its earnings results on Monday, March 2nd. The investment management company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The company had revenue of $17.34 million during the quarter, compared to analyst estimates of $16.91 million. WhiteHorse Finance had a return on equity of 9.66% and a net margin of 19.73%. Analysts predict that WhiteHorse Finance will post 1.66 EPS for the current year.

WhiteHorse Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Thursday, March 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend was Thursday, March 12th. WhiteHorse Finance’s dividend payout ratio is 161.29%.

WhiteHorse Finance Company Profile

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.