Zacks Investment Research lowered shares of WhiteHorse Finance, Inc. (NASDAQ:WHF) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, July 4th.
According to Zacks, “WhiteHorse Finance, Inc. is a business development company focused on originating loans to privately held small-cap companies across a broad range of industries. WhiteHorse Finance, Inc. is based in Miami, United States. “
WHF has been the topic of a number of other research reports. Robert W. Baird raised shares of WhiteHorse Finance from a neutral rating to an outperform rating and set a $15.00 target price on the stock in a report on Thursday, June 29th. ValuEngine raised shares of WhiteHorse Finance from a buy rating to a strong-buy rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $14.13.
Shares of WhiteHorse Finance (NASDAQ:WHF) traded down 0.08% on Tuesday, hitting $13.29. 36,637 shares of the stock traded hands. The stock has a 50 day moving average price of $13.68 and a 200-day moving average price of $13.57. WhiteHorse Finance has a 52 week low of $10.30 and a 52 week high of $14.75.
WhiteHorse Finance (NASDAQ:WHF) last announced its quarterly earnings results on Friday, May 5th. The investment management company reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The company had revenue of $13.58 million for the quarter, compared to analysts’ expectations of $12.10 million. WhiteHorse Finance had a net margin of 65.58% and a return on equity of 10.78%. On average, equities analysts predict that WhiteHorse Finance will post $1.45 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Monday, June 19th were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 10.68%. The ex-dividend date of this dividend was Thursday, June 15th. WhiteHorse Finance’s dividend payout ratio (DPR) is presently 73.58%.
Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in shares of WhiteHorse Finance during the first quarter worth approximately $273,000. Hillsdale Investment Management Inc. bought a new position in shares of WhiteHorse Finance during the first quarter worth approximately $476,000. UBS Group AG raised its position in shares of WhiteHorse Finance by 2.3% in the first quarter. UBS Group AG now owns 291,583 shares of the investment management company’s stock worth $4,024,000 after buying an additional 6,584 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of WhiteHorse Finance during the first quarter worth approximately $205,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.
About WhiteHorse Finance
WhiteHorse Finance, Inc is a non-diversified, closed-end management investment company. The Company is a direct lender targeting debt investments in privately held, small-cap companies located in the United States. The Company’s investment objective is to generate attractive risk-adjusted returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing small-cap companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate (LIBOR) and have a term of 3 to 6 years.
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