WhiteHorse Finance, Inc. (NASDAQ:WHF – Get Rating) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totaling 61,400 shares, a decline of 20.9% from the January 15th total of 77,600 shares. Based on an average daily trading volume, of 76,500 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.4% of the company’s stock is sold short.
Insider Activity
In related news, Director John Bolduc bought 7,690 shares of WhiteHorse Finance stock in a transaction that occurred on Monday, December 5th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $99,970.00. Following the acquisition, the director now owns 166,722 shares in the company, valued at $2,167,386. The acquisition was disclosed in a document filed with the SEC, which is accessible via the SEC website. Insiders bought a total of 38,658 shares of company stock worth $501,002 in the last three months. 1.80% of the stock is owned by insiders.
Institutional Trading of WhiteHorse Finance
A number of institutional investors and hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC increased its position in shares of WhiteHorse Finance by 52.9% during the fourth quarter. Sound Income Strategies LLC now owns 597,567 shares of the investment management company’s stock valued at $7,798,000 after purchasing an additional 206,872 shares during the period. Advisors Asset Management Inc. increased its position in shares of WhiteHorse Finance by 6.4% during the third quarter. Advisors Asset Management Inc. now owns 301,813 shares of the investment management company’s stock valued at $3,350,000 after purchasing an additional 18,109 shares during the period. UBS Group AG increased its position in shares of WhiteHorse Finance by 6.7% during the fourth quarter. UBS Group AG now owns 247,065 shares of the investment management company’s stock valued at $3,224,000 after purchasing an additional 15,599 shares during the period. Legal & General Group Plc increased its position in shares of WhiteHorse Finance by 10.5% during the second quarter. Legal & General Group Plc now owns 137,417 shares of the investment management company’s stock valued at $1,806,000 after purchasing an additional 13,018 shares during the period. Finally, Raymond James & Associates increased its position in shares of WhiteHorse Finance by 2.6% during the third quarter. Raymond James & Associates now owns 125,774 shares of the investment management company’s stock valued at $1,396,000 after purchasing an additional 3,146 shares during the period. 12.45% of the stock is currently owned by institutional investors.
WhiteHorse Finance Stock Up 0.8 %
Shares of WHF stock opened at $13.20 on Friday. WhiteHorse Finance has a 12 month low of $10.57 and a 12 month high of $15.50. The firm has a market cap of $306.77 million, a PE ratio of 15.00 and a beta of 1.27. The stock has a 50 day moving average of $13.11 and a 200-day moving average of $13.17. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.26.
WhiteHorse Finance (NASDAQ:WHF – Get Rating) last issued its quarterly earnings results on Monday, November 14th. The investment management company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. WhiteHorse Finance had a return on equity of 9.19% and a net margin of 24.97%. The company had revenue of $21.56 million during the quarter, compared to analyst estimates of $21.18 million. On average, equity analysts predict that WhiteHorse Finance will post 1.55 EPS for the current year.
WhiteHorse Finance Announces Dividends
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 21st were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 10.76%. The ex-dividend date of this dividend was Tuesday, December 20th. WhiteHorse Finance’s dividend payout ratio is presently 161.37%.
Wall Street Analyst Weigh In
WHF has been the subject of several analyst reports. LADENBURG THALM/SH SH reduced their target price on WhiteHorse Finance to $14.00 in a report on Thursday, November 17th. TheStreet lowered WhiteHorse Finance from a “b-” rating to a “c” rating in a report on Thursday, December 1st. Finally, Raymond James reduced their target price on WhiteHorse Finance from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, November 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, WhiteHorse Finance has an average rating of “Hold” and an average price target of $13.60.
WhiteHorse Finance Company Profile
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WhiteHorse Finance, Inc is an externally managed, non-diversified, closed-end management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Our stock is publicly traded on the NASDAQ exchange under the ticker symbol “WHF”. We have senior notes listed on the NASDAQ exchange under the ticker symbol “WHFBL”.
Further Reading
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