WhiteHorse Finance (NASDAQ:WHF) Share Price Breaks Above 200 Day Moving Average – Time to Sell?

WhiteHorse Finance, Inc. (NASDAQ:WHF)’s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $7.00 and traded as high as $7.26. WhiteHorse Finance shares last traded at $7.10, with a volume of 68,697 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WHF. B. Riley Financial raised their price objective on shares of WhiteHorse Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Friday, August 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of WhiteHorse Finance from $6.00 to $6.50 and gave the stock an “underweight” rating in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, WhiteHorse Finance currently has an average rating of “Reduce” and an average price target of $7.25.

WhiteHorse Finance Trading Down 0.3%

The stock has a market cap of $151.19 million, a P/E ratio of 8.91 and a beta of 0.38. The firm’s fifty day moving average price is $6.91 and its two-hundred day moving average price is $7.00. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.39 and a quick ratio of 1.39.

WhiteHorse Finance (NASDAQ:WHF) last issued its quarterly earnings results on Monday, August 10th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The business had revenue of $14.37 million for the quarter, compared to the consensus estimate of $15.66 million. WhiteHorse Finance had a net margin of 26.88% and a return on equity of 8.94%. As a group, equities research analysts forecast that WhiteHorse Finance, Inc. will post 0.97 EPS for the current year.

WhiteHorse Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date of this dividend is Monday, September 21st. WhiteHorse Finance’s payout ratio is currently 126.58%.

Institutional Investors Weigh In On WhiteHorse Finance

A number of large investors have recently added to or reduced their stakes in the company. NewEdge Wealth LLC purchased a new stake in shares of WhiteHorse Finance in the 2nd quarter worth about $117,000. Closed End Fund Advisors Inc. bought a new stake in WhiteHorse Finance during the 4th quarter valued at approximately $286,000. Gables Capital Management Inc. bought a new stake in WhiteHorse Finance during the 2nd quarter valued at approximately $294,000. BlackRock Inc. purchased a new position in shares of WhiteHorse Finance during the 2nd quarter worth approximately $477,000. Finally, Legal & General Group Plc bought a new position in WhiteHorse Finance in the second quarter worth $1,172,000. Hedge funds and other institutional investors own 13.20% of the company’s stock.

WhiteHorse Finance Company Profile

WhiteHorse Finance, Inc (NASDAQ: WHF) is a business development company that provides financing to privately owned, primarily middle-market companies. The company invests in businesses across a range of industries, with an emphasis on generating current income and, to a lesser extent, long-term capital appreciation.

WhiteHorse Finance’s investment portfolio generally consists of senior secured loans, subordinated debt and other structured investments. It may also make equity investments in portfolio companies.