WhiteHorse Finance (NASDAQ:WHF) Price Target Raised to $6.50 at JPMorgan Chase & Co.

WhiteHorse Finance (NASDAQ:WHF) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $6.00 to $6.50 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 10.23% from the company’s previous close.

A number of other brokerages have also recently issued reports on WHF. B. Riley Financial increased their target price on WhiteHorse Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Weiss Ratings lowered shares of WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $7.25.

WhiteHorse Finance Trading Up 2.7%

NASDAQ WHF traded up $0.19 during mid-day trading on Wednesday, reaching $7.24. 62,058 shares of the stock were exchanged, compared to its average volume of 95,654. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a 50 day simple moving average of $6.59 and a 200-day simple moving average of $6.90. WhiteHorse Finance has a one year low of $6.07 and a one year high of $8.97. The stock has a market cap of $155.51 million, a P/E ratio of 9.18 and a beta of 0.38.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Monday, August 10th. The investment management company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). WhiteHorse Finance had a return on equity of 8.94% and a net margin of 26.88%.The firm had revenue of $15.29 million for the quarter, compared to analyst estimates of $15.66 million. On average, analysts anticipate that WhiteHorse Finance will post 0.97 EPS for the current year.

Insider Buying and Selling at WhiteHorse Finance

In other WhiteHorse Finance news, Director John Bolduc bought 15,380 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were acquired at an average cost of $6.49 per share, for a total transaction of $99,816.20. Following the purchase, the director directly owned 317,297 shares of the company’s stock, valued at $2,059,257.53. The trade was a 5.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stuart D. Aronson purchased 20,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average price of $6.67 per share, with a total value of $133,400.00. Following the transaction, the chief executive officer owned 100,000 shares in the company, valued at approximately $667,000. The trade was a 25.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 94,940 shares of company stock worth $627,568. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On WhiteHorse Finance

A number of institutional investors have recently made changes to their positions in WHF. Lalia Capital LLC bought a new stake in shares of WhiteHorse Finance during the 2nd quarter worth $4,776,000. CastleKnight Management LP bought a new stake in WhiteHorse Finance during the fourth quarter worth about $2,033,000. Two Sigma Investments LP lifted its stake in WhiteHorse Finance by 27.5% during the third quarter. Two Sigma Investments LP now owns 231,140 shares of the investment management company’s stock worth $1,599,000 after purchasing an additional 49,893 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of WhiteHorse Finance in the 2nd quarter worth about $1,240,000. Finally, Legal & General Group Plc bought a new position in shares of WhiteHorse Finance during the 2nd quarter valued at about $1,172,000. Institutional investors own 13.20% of the company’s stock.

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.