WhiteHorse Finance (NASDAQ:WHF) Announces Earnings Results

WhiteHorse Finance (NASDAQ:WHF) released its earnings results on Monday. The investment management company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03), FiscalAI reports. WhiteHorse Finance had a net margin of 13.46% and a return on equity of 9.47%. The business had revenue of $14.37 million during the quarter, compared to analyst estimates of $15.66 million.

WhiteHorse Finance Price Performance

WHF stock opened at $6.87 on Tuesday. The stock’s 50 day moving average price is $6.55 and its 200 day moving average price is $6.89. The firm has a market cap of $147.48 million, a P/E ratio of 16.75 and a beta of 0.38. 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 has a 1 year low of $6.07 and a 1 year high of $8.97.

WhiteHorse Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Monday, September 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $1.00 dividend on an annualized basis and a yield of 14.6%. WhiteHorse Finance’s dividend payout ratio is presently 243.90%.

Insider Buying and Selling at WhiteHorse Finance

In related news, Director John Bolduc purchased 15,380 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was bought at an average cost of $6.49 per share, with a total value of $99,816.20. Following the completion of the acquisition, the director directly owned 317,297 shares in the company, valued at $2,059,257.53. The trade was a 5.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stuart D. Aronson acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average cost of $6.67 per share, for a total transaction of $133,400.00. Following the purchase, the chief executive officer owned 100,000 shares of the company’s stock, valued at approximately $667,000. The trade was a 25.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 94,940 shares of company stock valued at $627,568 in the last three months. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. HRT Financial LP raised its stake in WhiteHorse Finance by 16.5% during the fourth quarter. HRT Financial LP now owns 19,922 shares of the investment management company’s stock worth $138,000 after purchasing an additional 2,815 shares during the period. Advisory Services Network LLC acquired a new stake in shares of WhiteHorse Finance in the third quarter valued at about $26,000. Osaic Holdings Inc. boosted its holdings in WhiteHorse Finance by 43.7% in the 4th quarter. Osaic Holdings Inc. now owns 18,634 shares of the investment management company’s stock worth $130,000 after acquiring an additional 5,665 shares during the period. Kestra Advisory Services LLC acquired a new stake in WhiteHorse Finance in the fourth quarter valued at approximately $44,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of WhiteHorse Finance by 35.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 24,457 shares of the investment management company’s stock valued at $169,000 after purchasing an additional 6,460 shares during the period. 13.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of WhiteHorse Finance from $6.50 to $6.00 and set an “underweight” rating for the company in a report on Thursday, July 2nd. Weiss Ratings cut shares of WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $7.50.

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.