WhiteHorse Finance (NASDAQ:WHF) Raised to “Hold” at BidaskClub

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BidaskClub upgraded shares of WhiteHorse Finance (NASDAQ:WHF) from a sell rating to a hold rating in a report published on Thursday morning, BidAskClub reports.

Separately, Raymond James set a C$80.00 price target on shares of West Fraser Timber and gave the company a strong-buy rating in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. WhiteHorse Finance presently has a consensus rating of Hold and an average target price of $14.63.

WHF stock opened at $14.27 on Thursday. The stock has a market capitalization of $291.75 million, a price-to-earnings ratio of 9.51 and a beta of 0.61. The firm’s 50-day moving average price is $14.08. WhiteHorse Finance has a one year low of $11.89 and a one year high of $15.27. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.56.

WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings results on Wednesday, May 8th. The investment management company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The business had revenue of $15.92 million during the quarter, compared to analyst estimates of $15.46 million. WhiteHorse Finance had a net margin of 80.64% and a return on equity of 9.50%. As a group, sell-side analysts expect that WhiteHorse Finance will post 1.48 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 9.95%. The ex-dividend date of this dividend was Wednesday, June 19th. WhiteHorse Finance’s payout ratio is 94.67%.

In related news, Director Kevin Francis Burke acquired 3,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were purchased at an average price of $14.00 per share, for a total transaction of $42,000.00. Following the completion of the acquisition, the director now directly owns 7,530 shares in the company, valued at approximately $105,420. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Anthony Tamer sold 2,350,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $14.00, for a total transaction of $32,900,000.00. Following the transaction, the insider now owns 6,026 shares in the company, valued at approximately $84,364. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in shares of WhiteHorse Finance by 12.0% during the fourth quarter. Legal & General Group Plc now owns 89,166 shares of the investment management company’s stock valued at $1,139,000 after acquiring an additional 9,546 shares in the last quarter. Marshall Wace LLP acquired a new position in WhiteHorse Finance in the 1st quarter worth approximately $1,241,000. Tradition Capital Management LLC acquired a new position in WhiteHorse Finance in the 1st quarter worth approximately $943,000. Sumitomo Mitsui Asset Management Company LTD increased its holdings in WhiteHorse Finance by 97.4% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 62,045 shares of the investment management company’s stock worth $881,000 after buying an additional 30,609 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in WhiteHorse Finance in the 1st quarter worth approximately $409,000. Hedge funds and other institutional investors own 11.40% of the company’s stock.

WhiteHorse Finance Company Profile

WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States. Its investment objective is to generate returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing lower middle market companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate.

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