Two Sigma Investments LP trimmed its stake in WhiteHorse Finance (NASDAQ:WHF) by 39.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,930 shares of the investment management company’s stock after selling 47,525 shares during the quarter. Two Sigma Investments LP owned approximately 0.35% of WhiteHorse Finance worth $965,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eqis Capital Management Inc. acquired a new position in WhiteHorse Finance in the fourth quarter valued at $138,000. Susquehanna International Group LLP acquired a new position in WhiteHorse Finance in the third quarter valued at $174,000. JPMorgan Chase & Co. increased its stake in WhiteHorse Finance by 39.7% in the third quarter. JPMorgan Chase & Co. now owns 19,944 shares of the investment management company’s stock valued at $295,000 after purchasing an additional 5,664 shares during the last quarter. AXA increased its stake in WhiteHorse Finance by 161.6% in the fourth quarter. AXA now owns 33,217 shares of the investment management company’s stock valued at $446,000 after purchasing an additional 20,517 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in WhiteHorse Finance in the third quarter valued at $539,000. 8.83% of the stock is owned by institutional investors.
In related news, CEO Stuart D. Aronson bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was bought at an average price of $12.58 per share, with a total value of $25,160.00. Following the completion of the transaction, the chief executive officer now directly owns 12,000 shares of the company’s stock, valued at $150,960. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Bolduc bought 7,201 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was bought at an average cost of $12.50 per share, with a total value of $90,012.50. Following the transaction, the director now directly owns 157,146 shares of the company’s stock, valued at $1,964,325. The disclosure for this purchase can be found here. Insiders bought 9,401 shares of company stock valued at $117,743 in the last ninety days. Company insiders own 1.40% of the company’s stock.
WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Friday, March 2nd. The investment management company reported $0.33 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.33. WhiteHorse Finance had a return on equity of 9.46% and a net margin of 62.86%. The firm had revenue of $13.92 million during the quarter, compared to the consensus estimate of $12.59 million. research analysts anticipate that WhiteHorse Finance will post 1.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Monday, March 26th were given a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 11.24%. The ex-dividend date was Friday, March 23rd. WhiteHorse Finance’s payout ratio is 105.19%.
Several equities analysts recently commented on the company. Zacks Investment Research lowered WhiteHorse Finance from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 10th. JPMorgan Chase lowered WhiteHorse Finance from a “neutral” rating to an “underweight” rating in a research note on Tuesday, February 6th. BidaskClub upgraded WhiteHorse Finance from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. Deutsche Bank assumed coverage on WhiteHorse Finance in a research note on Thursday, March 29th. They issued a “buy” rating and a $14.50 target price for the company. Finally, Ladenburg Thalmann upgraded WhiteHorse Finance from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Monday, March 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $13.80.
About WhiteHorse Finance
WhiteHorse Finance, LLC is a business development company.
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